Chelton Inc., a subsidiary of the Wimborne, UK-based Chelton Group, will relocate from 1720 Lakepointe Dr. in Waters Ridge to a larger spot at 1955 Lakeway Dr. to push the Vantage Cos.-owned, 90,000-sf complex to 90% occupancy. "They searched the market thoroughly," Tim Terrell with Stream Realty Partners in Irving tells GlobeSt.com about the win that took nearly four months to lock down.
Terrell says the flexibility to expand in the 61,769-sf Waters Ridge Tech Center I was the deal-maker. "They were very concerned about expansion," he says.
Chelton will set up shop in flex office space emptied about a year ago. Tenant improvements will begin immediately, allowing the lion's share to remain as office and the balance to be built out as assembly space.
Terrell represents Vantage, with headquarters offices in Dallas and Houston, for the Waters Ridge Tech Center, which has a quoted rate of $10.95 per sf triple net. Brian Wittington and Alan Wood with Dallas-based Dillon Corporate Services brokered terms for the tenant.
The Lewisville-based Chelton subsidiary's core business is the commercial and military aerospace industry. The 22-year-old firm manufactures antenna systems and p-static dischargers for standard and special applications.
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