"The challenge was getting contiguous expansion space," Jim Nelms, senior managing director in the Dallas office of Julien J. Studley, tells GlobeSt.com. "By chance and by luck, the next-door tenant was willing to downsize." And that, says Nelms, made the wholesale floor covering distributor quite happy since it wanted to stay put in Dallas Corporate Center 3, located at 2250 LBJ Freeway.
Nelms represented the tenant in the renewal-expansion. ProLogis Trust, building owner and manager, had first vice president Mark Cashman negotiate the deal. Nelms says negotiations reaped a below-market renewal rate for BPI, which also leases distribution space in Houston, San Antonio and several southeastern US cities.
The single-story Dallas Corporate Center 3 is a 1.3 million-sf structure a master-planned business park. BPI, a park tenant for about five years, services more than 6,000 residential and commercial customers from an estimated 500,000 sf of warehouse hubs in its multi-state network.
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