LA PORTE, TX-Frontier Logistics, which made its home at a 200,007-square-foot, free-standing industrial building in 2006, has decided to stick around. The logistics company, which offers warehousing, packaging, transportation, container handling, freight-forwarding and rail services, signed a three-year lease renewal valued at $1.9 million with owner Heller Industrial Parks Inc.
Though Frontier Logistics’ deal for the building at 11931 State Highway 225 in Heller’s La Port Industrial Park was fairly straightforward with few major changes, it did include the addition of extra land the tenant will use for trailer parking. Furthermore, the Edison, NJ-based owner provided extra allowance for some minor improvements.
“It seemed, from the start, that they (Frontier) had a definite use for the buildings,” comments Fred Kurtz, Heller Industrial’s vice president and Midwest/Southwest property manager. “We simply met at an agreeable rental, and everything is continuing on course.”
Kurtz tells GlobeSt.com that Heller constructed the building in the 1980s, and has managed it since that time. He adds that the asset has gone through what he dubs “a couple of heavy-duty makeovers.” He says La Porte Industrial Park contains a 218,000-square-foot building, which is newer, and which has also been occupied for awhile. “The La Porte/Houston area is a strong one; it’s been doing better in our portfolio than some of our other areas,” Kurtz says.
Does this mean that Heller might be on the lookout for other likely industrial property? “The thought’s crossed our mind within the past couple of weeks, and we’ve been presented with an opportunity or two,” Kurtz acknowledges. “But there’s nothing on the horizon right this minute that I can speak to.”
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