Mid-States Services, holding a three-year lease, will set up shop at 580 N. Beach St., owned by Melvin Evans Properties Ltd. of Fort Worth, George Curry with Staubach Co.'s Fort Worth office tells GlobeSt.com. He says the consolidation site search began two months ago for a company now occupying 6,000 sf of headquarters office space at 860 Airport Freeway in Hurst and 30,000-sf distribution center in Temple. He says the moves coincide with lease expirations at both locations.
Curry, who represented Mid-States along with Staubach's Todd Burnette, says the initial survey turned up more than 50 options from Fort Worth to the Mid-Cities. After 10 tours, three made the short list and the Beach Street property made the cut.
"They were very aggressive on their rate," Curry says. "The aggressive pricing was the biggest motivator." The going rate for comparable properties hovers $3.25 per sf gross. The closed deal includes two months' free rent and a $15,000 tenant improvement allowance for half of the 110,004-sf building, he discloses.
Curry says Mid-States' new address was empty at least a year. The building owner used in-house broker, Michael Parish, to structure its terms.
Mid-States, which distributes commissary products to prisons, has four other distribution centers across the US. The consolidation will add at least 30 jobs when the move's complete.
© 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.