HOUSTON—In a transaction that is the sixth-largest by square foot in the Houston industrial market year to date, BASINTEK LLC renewed its lease at Prologis Northpark Business Park and then some. The company's space at 713 Northpark Central Dr. includes a 200,000-square-foot industrial renewal and expansion.

“With help from NAI Partners, BASINTEK is pleased to announce an extension of our current lease which includes additional space,” said Dan O'Sullivan, president of BASINTEK. “Our partnership with Prologis further enhances BASINTEK's ability to safely provide product to our customers.”

To some, the lease renewal signals new life for the recovering market, hardest hit by the oil and gas downturn. Nick Peterson, vice president, and John Ferruzzo of NAI Partners represented the tenant during the negotiations within the North Houston submarket.

“The flexibility of the landlord, Prologis, was instrumental in getting the renewal/expansion done,” Peterson tells GlobeSt.com. “They moved the neighbor to another vacancy so that our client could expand into the entire building. This helped our client become much more efficient in their manufacturing process.”

BASINTEK provides mud motor drilling power section technology to the oil and gas drilling industry. Its engineers and technicians research, develop and field test the entire line of mud motor drilling power sections in this facility.

“Arranging a lease of this magnitude for a drilling company in expansion mode is a breath of fresh air for Houston and a testament to the city's slowly recovering oil and gas industry,” said Peterson.

The business park is located near George Bush Intercontinental Airport and provides access to Interstate 45, Beltway 8 and Hardy Toll Road. Other tenants in the industrial park include General Cable and ProTrans Houston.

ProTrans expanded its North American network to Houston by opening a new facility at Prologis Northpark Business Park late last year, GlobeSt.com learns. The new Houston facility provides support for international shipments and expands its coverage across the Texas/Mexican border region.

ProTrans' service center offers a total of 51,758 square feet including 49,000 square feet of warehouse space plus 2,700 square feet of office space. It features 10 dock doors, one ramp, 28-foot high ceilings and an ESFR sprinkler system.

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Mega-Renewal is Breath of Fresh Air for Turnaround

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