The industrial site will be used for sales and storage. Mario Rio of the Sugar Land office of Remax represented MAB Flooring in the lease negotiations. Brad Berry served as the in-house broker for building owner, Vantage Development 22 Inc., an entity of Vantage Cos. Houston Division.
Pinemont Center is located near Hempstead Highway in the northwest's industrial distribution corridor. The buildings are designed with 22,500 sf and 47,250 sf. The two-year-old Pinemont Center quotes an annual rental rate of $5 per sf.
Currently, there are nine industrial buildings edging close to delivery in the northwest corridor. The submarket already contains an 87-million-sf inventory and has just emerged from several quarters of negative absorption. The first positive reading came in the last quarter, when deals of nearly 650,000 sf closed.
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