"This start-up company needed a 10,000-sf to 15,000-sf building with a crane, says Travis Land, an associate with NAI Houston. "Pacer also wanted to be in northwest Houston." Land and NAI's John Ferruzzo represented Pacer-PSI in the lease negotiations for 12243-B FM 529 while the local building owner, Texas Development Co., was had in-house representatives, Stephen Marmion and Cathy Wilson, bargain its terms.
Land tells GlobeSt.com that Pacer-PSI looked for roughly 30 days before narrowing its options to two buildings. The company, which employs 10 people, chose Northwoods Industrial Park for the economics and location. "Its competitors and customers are located in the park," he says.
Pacer-PSI's lease brings the 30,000-sf, duplex to full occupancy. Built in the 1980s, the building leases for $4.56 per sf, modified gross.
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