The lease is both an expansion and relocation for AshleyFurniture, according to Walker Barnett, a senior vice presidentwith Colliers International's local office. He and Gary Mabrayhandle the marketing of Airtex Industrial Center, while JustinBennett represented Panattoni in all lease negotiations. JeffVenghaus and Ryan Fuselier of Jones Lang LaSalle represented AshleyFurniture.

Barnett tells GlobeSt. that Ashley Furniture will relocate fromthe Sugar Land area and combine warehouse and distribution fortheir southeast Texas stores into the new facility. The companywill also have a retail clearance center in the building's frontagealong Airtex.

Panattoni kicked off development of the 60-acre AirtexIndustrial Center with the construction of a 486,720-square-foot,Class A industrial facility that was completed in fall 2009. Withthe Ashley Furniture lease, the building is 88% occupied. Othertenants include: Velocity Acquisition I and Ozburn HesseyLogistics.