In February, Audio Video Distributing will move into 11281 Indian Trails in the South Stemmons submarket in a five-year lease for the former Carrier Air Conditioning Co. building, Ken Wesson, senior vice president and managing director for the Stemmons Corridor of Bradford Cos. in Dallas, tells GlobeSt.com. Audio Video Distributing, which deals in consumer electronics, will use the single-story building as its corporate headquarters.

Wesson represented EastGroup in the purchase and lease negotiations. Leigh Richter of the Joe Foster Co. represented the seller, Tayloe Properties Ltd. of Dallas. Mike Gravitt of Mike Gravitt & Co. Inc. in Dallas bargained for the tenant, which will be relocating from the Walnut Ridge area.

Wesson says the one-acre asset was on the market just 30 days when EastGroup put it under contract. The REIT is a well-known cluster buyer, a primary factor in Indian Trails making it to the closing table with EastGroup as the purchaser. Within a one-mile radius, EastGroup owns about 500,000 sf of other industrial product that is "100% economically occupied," he says.

"We just found the right tenant quickly," Wesson says, noting that the seller cleared the path for him to advertise for a tenant as soon as it went under contract to level a one-two punch at the closing table.

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