A Brite Co. is planning a Feb. 15 move to 3217 Wood Dr., turning out lights in three buildings at 8005 Sovereign Row in the Brookhollow Industrial District. Eric Beichler of Dallas-based Mohr Partners says the locally headquartered company, with a second location in Monterrey, Mexico, is keeping about the same size of manufacturing space, but gaining more office area and a newer building.
The six-month search came to an end with an economic package of $3 per sf base, triple net, a TI allowance and some free rent, Beichler tells GlobeSt.com. And, he says the city is weighing additional incentives.
Beichler says newer space and lower rates due to a soft leasing market sparked the decision to relocate. The search began six months ago, with a number of building owners jumping into the competition, he says. The search included the possibility of buying, but the right building at the right price couldn't be found due to retrofitting costs for power and water demands for a "zero discharge" operation that includes lab space. The company produces proprietary chemicals for metal finishing and environmental industries.
Owned by LIT Industrial of Texas LP, the 68,234-sf building has been empty about a year. Kyle Valentine of Trammell Crow Co. negotiated the deal for the Dallas -based property owner.
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