Noel Hutcheson, associated with Cushman & Wakefield of Texas Inc., says a market survey drove Charter Holdings, the Dallas-based building owner of 4202 Dan Morton Dr., to get into the race. "Charter came back with a pretty attractive deal," Hutcheson tells GlobeSt.com, "and helped us renew early." The 226,000-sf building's quoted rent is $2.25 per sf net.
"We surveyed the market, but we did not have any compelling reason to move," Hutcheson explains. "It was good timing from a market standpoint. They were able to keep a long-term tenant in place and Leslie's was able to take advantage of the market for their long-term strategy." Leslie's Poolmart, undertaking an expansion of its retail and commercial lines, uses the warehouse in the Redbird Industrial District to supply retail locations in Dallas/Fort Worth.
C&W senior director Rick Hughes and Hutcheson represented the tenant. Craig Jones with the Robert Lynn Co. in Dallas brokered the terms for Charter Holdings, which agreed to tenant improvements of the office and dock doors, Hutcheson says.
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