Build-out is underway on the smaller of the two buildings, both with Garland addresses, both long-term leases and both owned by Chicago-based First Industrial. The group's 49,368-sf block in the bulk warehouse at 2705 Shiloh Rd. will be ready to occupy before October, says Mark Aller, First Industrial's marketing and leasing director. About two miles away, the group held onto 57,932 sf, a freestanding regional warehouse used for administration offices and storage at 2010 Merritt Dr.
Aller says the organization spent at least six months sorting through the market's inventory for a relocation site. "It was one we didn't want to lose," he tells GlobeSt.com.First Industrial took an aggressive stance to hold onto the longtime tenant. "We're probably leading in being aggressive," Aller acknowledges, "but it was a fair deal for the long term."
Aller says the renewal was inked early, with the organization in for another five years. A long-term pact also was spun for the extra office and warehouse space.
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