Jorgensen, a distributor of metal bar and tubular products, leases an industrial facility at 6201 Lumberdale Rd., but will set up the new group at 5111 Milwee St. in September, according to Travis Land, a senior associate with NAI Houston. He tells GlobeSt.com that Jorgensen needs to build out the space and add a crane before it can move into the structure. Clay Peeples and Mike Boyd with Boyd Commercial in Houston were the tenant's reps.
The deal, which fills the 32,000-sf building, sets up a development play for land next door for owner MBC LP, says Land, who teamed with NAI principal John Ferruzzo on the transaction. The plan is to develop a 23,000-sf, crane-ready speculative building at 5151 Milwee St. The tilt-wall project, set for completion in September, is carrying a quoted rate of $4.56 per sf, triple net.
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