Marlite Inc. made the move to 921 Avenue M in Grand Prairie from 1184 113th St. in sync with a lease expiration, says Gary Lindsey, senior vice president with Grubb & Ellis Co.'s Dallas office. He tells GlobeSt.com that the pact kicks in Sept. 1 at the ProLogis-owned building, which has been empty about a year.
Lindsey says the structure is roughly 5,000 sf smaller than its vacated site, but the option for a freestanding building with a private truck court was key to the decision as was the rate. "We made a very attractive deal," he says. "ProLogis went straight to the bottom line and quoted a very aggressive lease situation."
Joe Rudd with the Denver-based ProLogis' Dallas team bargained the deal for GSW Distribution Center 32, part of a submarket with an average warehouse rate of $3.66 per sf. The Grand Prairie facility is one of five regional centers in the US for the 75-year-old manufacturer of wall systems and interior building products.
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