Blue Line's corporate team has been eyeing the 137,767-sf building at 814 Avenue R in Grand Prairie since early 2003. Talks picked up again about eight months ago as Blue Line's 50,000-sf lease neared expiration at 2605 LBJ Freeway, J. Cannon Green with the Arlington office for Dallas-based Trammell Crow Co. tells GlobeSt.com.
Green says Blue Line shopped the market and came back to the San Diego-headquartered Jack in the Box Inc.'s former space, emptied about a year ago for a build-to-suit in Mountain Creek in Dallas. "There aren't a lot of buildings with freezers and coolers out there," he says.
The freezer and cooler expansion will take another 90 days to complete. Green says Blue Line will take its keys Jan. 1 and lease refrigerator space elsewhere until construction is done. "It was more complicated than a standard deal," he explains, "because of the tenant improvements going on." The front-load space was on the market at $3.50 per sf net, with talks delivering a seven-year term and a couple bumps in the rent.
Blue Line Distributing Inc., headquartered in Detroit, will use the location to supply Little Caesar locations and third-party logistics contracts for other food companies, according to Green. The inbound tenant, holding expansion rights, will start out by sharing Building A with two others. The new deal hangs a "no vacancy" sign on the structure.
Green and TCC's Scott Krikorian lease the structure for the Seattle-based asset manager and adviser, Kennedy Associates Real Estate Counsel Inc. Joe Doye with the Westin Co. in Dallas represented Blue Line.
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