Waters Ridge Tech Center III at 1825 Lakeway Dr. is adding Festo Corp. to the building directory. The top name in its industry will start the move tomorrow into 4,731 sf at the Vantage Co.-owned building in Lewisville, Jason Miller of Property Advisers Realty Inc. in Irving tells GlobeSt.com.
Festo, headquartered in Esslingen, Germany, is one of world's leading producers of high-quality pneumatic and electronic components and controls. The relocation from Beltline Road in Addison is bringing a slight expansion for the company, which signed a long-term lease for the class A, first-generation space.
Miller and Jerry Reis, Property Advisers' president, represented the inbound tenant. Len Murray of the Vantage Co. handled its side of the negotiations.
Already occupying is MacSource Inc., which signed a mid-term lease for 43,650 sf of "as-is" bulk warehouse space at 2179 Shiloh Rd. in Garland. The Atlanta-based company turned on the lights in space that's been dark for about year. The building owner, First Industrial Realty Trust of Chicago, had Mark Aller, marketing and leasing director in its Dallas office, sitting across the bargaining table from the tenant's rep, Dave Anderson of CB Richard Ellis Inc.'s Dallas office.
In other First Industrial deals, Anchor Services moved into 2,470 sf at 7471 Airport Freeway in Fort Worth and Third Coast Technologies Inc. set up shop in 1,500 sf at 7415 Whitehall St., also in Fort Worth.
Anchor Services' three-year lease pushed the First Industrial building to 100% occupancy, says Mitch Pruitt, the building owner's representative for the deal. Beaux Riley of SCM Real Estate Services in Arlington bargained the terms for the tenant.
Pruitt also cornered the Third Coast Technologies lease at Midway Business Park to complement a just-signed 2,400-sf expansion lease that doubled the space occupied by Business Commercial Flooring of Fort Worth. The expansion pushed the 25-building, 700,000-sf park's occupancy to 100%, he says. Pruitt single-handedly brokered the expansion while Michelle Hudson of Henry S. Miller Commercial in Dallas represented Third Coast Technologies.
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