Michael Grant and Tom C. Smolik, a TIG Real Estate Services team in Dallas, handled the talks for the building owner, Eastpoint Business Center Inc. John Aldrich and Denton Rutledge, both of Colliers International's Dallas office, structured the pact for the tenant, a Charlotte, NC-based wholesaler of supplements for fitness and body building. The firm occupies more than 100,000 sf of distribution space in Fresno, CA and Charlotte.
Grant tells GlobeSt.com that the new deal pushes occupancy to 25% in the eight-month-old Eastpoint IV, a 255,500-sf, two-building project. The deal, capping about six months of looking, played to the heart of the business. "It was straight forward. They were looking for a good opportunity and we gave it to them," he says. That kind of bargaining approach has been keeping the wheels moving in today's tenant market.
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