Cosmos, a charter school with facilities in Houston and Austin, set up shop in Northgate III at 11995 Forestgate Dr. in Dallas. Loren Hilyer of Alliance Commercial in Dallas represented the school while Stephen Cooper of the locally based Robert Lynn Co. brokered for the building owner, American Industrial Properties REIT of Irving.
Cooper tells GlobeSt.com that the deal took about a year to sign due to charter school requirements. The Northgate III is a freestanding building in the northeast submarket. The park's quoted rate ranges from $4.50 per sf to $5.50 per sf.
In another industrial move-in, the ESI Group has filled 8,108 sf in Commercial Distribution Center I at 1347 Exchange Dr. in Richardson. The audio and sound production operator took "as-is" space in a building with a quoted rent of $3 per sf net. The 65,000-sf building, now 90% occupied, is owned by Proterra Properties of Dallas, which had leasing director Dan Lawson negotiating the terms. The tenant's rep was Mike Gravitt of Mike Gravitt & Co. in Dallas. The ESI Group, relocating from Farmers Branch, is using the office/warehouse space as its headquarters as well as equipment storage.
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