Preferred Painting Inc. will work out the one-year balance on a two-year sublease at 2855 Marquis Dr. in Garland as it readies the acquisition, 3300 Enterprise Rd. in Rowlett, for occupancy, Pete Richardson of Dallas-based Henry S. Miller Commercial tells GlobeSt.com. "We really hadn't been looking very hard or long when we found this building," Richardson says. "It was in the right place at the right time." It also had the right equipment to help sell the deal.
Seller Universal Display & Pictures Co. tossed in painting equipment when it took the 5.9-acre holding to market for slightly more than $1 million. Despite the overlap with some equipment, it will take most of the coming year to complete the move and renovate the "30s-something" building inside and out to customize it for Preferred Painting's needs, Richardson says.
Henry S. Miller Commercial brokers had the deal covered on both sides of the bargaining table. Dan Spika represented the seller while Richardson and Greg Trout, president of office and industrial, brokered for the buyer, who specializes in powder-coat painting of all types of products.
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