Wilsonart International Inc., a Temple, TX-based manufacturer of decorating surfacing products and laminate surfaces, is taking 29,500 sf for seven years at an estimated aggregate rent of $1.03 million. Wilsonart is a business unit of Illinois Tool Works Inc., a $12-billion, New York Stock Exchange-trade company based in Glenview, IL.
McDonald's previous $1-million tenant was Australian appliance maker Fisher & Paykel Appliances Inc. which leased 58,700 sf for seven years an at an estimated aggregate rent of $1.85 million. McDonald representatives declined to disclose the asking gross average rent range at the park but confirmed shell space rent is $4.15 per sf, triple net, with tenant improvements of $3 per sf and operating expenses of 95 cents per sf.
McDonald plans to break ground this year on CrownPointe 4, an 89,754-sf, rear-load distribution building. Building 3 was completed in September 2004. Dick Rossiter of the Staubach Co.'s Orlando office and Sharon Morrison of the firm's Dallas office negotiated the lease for Wilsonart. Tom McFadden of Advantis/GVA represented McDonald.
The deal took three months to complete, from contract signing to closing. CrownPointe 3 was one of six locations Wilsonart considered. Staubach brought the tenant to CrownPointe.
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