The new tenant, signing a 7.5-year lease, will relocate its distribution operation from the city's south side to a 36,000-sf flex building at 10648 W. Little York Rd. The move is penciled for April.

"The location drove this deal," says Walter Menuet, vice president with Vantage Cos. in Houston, Bondesen North's developer and owner. "And, I think they wanted an upgrade in the class of building." He teamed with Vantage's Ryan Cropper to negotiate the lease with Jim Stark of CB Richard Ellis Inc.'s Houston office on hand for the tenant.

The five-building, 215,000-sf industrial park, taking up 17 acres, has a quoted rate of 44 cents per sf, triple net. Menuet tells GlobeSt.com that the just-signed deal came very close to the market rate. "Our allowance for build-outs is $5 per sf and the tenant is right on that one, too," he adds.

Though the business park primarily is "for lease" space, a 60,000-sf building on the grounds is under contract. The deal is expected to close within a month. "Once that sale goes through, we're looking at approximately 45% occupancy of the entire park," Menuet explains.