Officials at locally based Oakmont Industrial Group, which is developing the five-building park, didn't disclose the length or value of the lease. But Oakmont executive vice president Steve Nelsen says the Corporate Express deal brings Parkway Logistics Centre to the 55%-leased mark, three months prior to the building's shell receiving its certificate of occupancy. Nelsen says that's an accomplishment, "particularly in this market."
Locally based Colliers Cauble Co.'s first-quarter rental statistics show flex industrial space is averaging $5.50 to $7 per sf; shallow bay and distribution space is going for $2.75 to $4.25 per sf; and warehouse premises are asking $2.50 to $2.75 per sf.
Matthew Lenhart, director of real estate for Corporate Express, negotiated his company's lease with Oakmont principals Nelsen and Richard Rider.
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