One Move's Done, Another's Under Way

Miner North Texas Ltd. took over a 17,500-sf office/warehouse at 4755 McEwen Rd. in Farmers Branch. The long-term lease was negotiated by Jim Svidron, vice president with the Robert Lynn Co. in Dallas, and Don Conlon, an in-house representative for the building owner, Gillis-Thomas Co., also of Dallas.

The San Antonio-based supplier of warehouse equipment was toying with a lease extension, Svidron tells GlobeSt.com. "They were getting in a pinch and running out of time. We looked at other spaces, but it wasn't worth the expense to move," he says about the ticking clock. Then, Svidron came across a freestanding building with 30% office finish-out in the Addison metropolitan submarket. "To find a freestanding building in that area is phenomenal," he explains of the industrial pocket where the going rate for like product is $4.75 per sf to $5 per sf gross.

In Carrollton, an IDI tenant is unpacking in a smaller warehouse space after striking a new deal with its existing landlord, IDI of Atlanta. Juno Lighting cut about 10,000 sf and is moving into 2445 Westgate Dr. in a relocation from within Val West Business Park.

The Grubb & Ellis Co. team of Robert O. Fulford III and Gary Lindsey negotiated a 3.5-year lease for the Chicago-based lighting company after checking out other buildings in the submarket. "The best deal was for them to stay an IDI tenant," Fulford tells GlobeSt.com about the final terms. "IDI made it very easy for them to stay." IDI"s John Leinbaugh handled its side of the talks.