The first sale nets almost $2.6 million for Flextronics International Inc., a deal that also closes the books on the Dallas end of the sale, Scott M. Jessen of Dallas-based Morse Co. tells GlobeSt.com. He and Scott A. Morse represent Flextronics, headquartered in Singapore, in the disposition of sites in New Braunfels and Austin as well as the Dallas property, a 144,000-sf manufacturing and warehouse building at 3222 W. Kingsley in Garland.

Interfederal Capital Inc. of Garland bought the 37-year-old building on seven acres for Logic Metals Technology Inc. and Atmospheric Water Technologies. Both are subsidiaries of Electric & Gas Technology Inc. of Garland and both are starting to move in now.

"It was a good transaction for Interfederal...and Flextronics was a motivated seller," Jessen says of a deal brought to the Morse Co. by a former tenant with ties to Interfederal. Jessen says they saw the Garland building was for sale and came knocking to see if a deal could be struck. In the end, Interfederal Capital was the highest of the three serious offers on the table.

Flextronics' subsidiary Multek was once Austin's second-biggest contract manufacturer. Its 750,000-sf manufacturing site on 70 acres at 3300 W. Braker Lane is under contract, Jessen confides. Also up for sale in Austin is a fully leased 188,000-sf building in the far north submarket. In New Braunfels, Flextronics is selling or looking to lease properties with 213,000-sf, 102,000-sf and 45,000-sf buildings. Lease negotiations are underway for the medium-size structure, according to Jessen. In the Dallas area, sublease tenants are being sought for 109,000 sf at 1300 Glenville in Garland and 15,000 sf in Las Colinas.

In late 2002, Flextronics started the move to its 126-acre campus in Plano, where it holds a long-term lease with a purchase option. Catellus Development Corp. of San Francisco and Dallas-based Jackson-Shaw Co. are the developers of the project designed with 1.3 million sf at build out.