Hunton, the exclusive distributor for Trane air conditioners in Texas, has been a tenant for two years in the 236,000-sf warehouse at 1606 Greens Rd. "It just made good business sense for them to stay there," explains Joel Michael, associate with NAI Houston. "They'd had a termination clause built into their original lease, things fell into place for them and they wanted to lock it up over the long term."
Michael, the tenant's long-time broker, tells GlobeSt.com that Hunton's new deal came in a little under the quoted lease of 36 cents per sf net and no tenant-improvement allowance. "It was an as-is deal," he adds.
David Hudson, formerly with Trammell Crow Co.'s Houston office, represented the building owner, Dividend Capital Trust Inc. of Denver. The deal keeps the five-year-old Gateway at Central Green at close to 100% occupancy.
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