International Surface Preparation Corp., headquartered in Houston, made a business strategy shift that required less space in North Texas, according to J. Cannon Green, a Trammell Crow Co. broker in Dallas who represented San Francisco-based building owner, Rreef Funds. Signing a long-term lease, the division took down half of a duplex building at 1326 W. North Carrier.
The 30,625-sf structure marked 100% occupancy with the transaction, pushing the 206,237-sf, three-building Carrier Distribution Center to 90% leased. Green says the deal was finalized within 30 days due to TIs that were minimal. "Rreef had done a good job with make-ready space," he says of a "market deal that was good for both sides." Green tells GlobeSt.com that the stair-stepped lease has one bump about midway through the term. The park's quoted rent is $3.75 per sf net. Jerry Alexander and Conrad Madsen, both with NAI Stoneleigh Huff Brous McDowell in Fort Worth represented the tenant.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.