Robert Yaquinto Printing Co. and Dallas-headquartered Proterra Properties negotiated a market rate deal for 4515 Bronze Way in South Dallas' Redbird Industrial Center, Dan Lawson, marketing director for Proterra, tells GlobeSt.com. Market rate, these days, is $2.25 per sf net on that side of town. Craig Hughes of the Robert Lynn Co. in Dallas represented the printing company.
The renewal wasn't a given despite the longtime hold on the address. "I think they had some options," Lawson says of the win. Proterra's leverage to hold the tenant is that its headquarters is just two blocks away. Still, the submarket's vacancy held plenty of opportunity there undoubtedly were choices since the submarket's vacancy is higher than the region's average. According to Grubb & Ellis Co.'s preliminary Q2 numbers, South Dallas is riding at 12.6% vacancy whereas the market overall posted 10.3%.
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