The Glen Allen, VA-based Owens & Minor Inc. will move in July to Freeport X at 500 Freeport Pkwy. in Coppell after spending more than 15 years in 103,855 sf in Trinity Mills 6 at 1434 Patton Place in Irving. The expansion creates one of the largest blocks of office/warehouse space to come due for Duke in awhile. With that spot about to open up, Duke re-upped the Trade Group, a seven-year tenant, to its headquarters, showroom and production space in the Trinity Mills building.
"We were in a competitive situation on both of those deals," Jeff Thornton, Duke's leasing director in Dallas/Fort Worth, tells GlobeSt.com. The transactions took one year to lock down, he says.
Owens & Minor is "a classic example of a tenant that really needed to modernize their space," says Jeff Turner, Duke's senior vice president. "Finally, the function of the space caught up."
But, Turner's not taking the double win for granted. "We're very thankful because every 80,000 sf is one point in occupancy," Turner says. "Every renewal is critical."
Duke owns 1.5 million sf in eight buildings in the 15-building, seven-million-sf Trinity Mills Park. Its share is 92% leased, according to Thornton. Owens & Minor's soon-to-be vacated space in the 241,000-sf Trinity Mills 6 will hit the market for $3.15 per sf, triple net. Meanwhile, Duke's eight-million-sf portfolio in Dallas/Fort Worth is holding at 96% occupancy.
Owens & Minor is taking over all of the spec space built into the 1.1-million-sf Freeport X when it was constructed for the Dallas-based Container Store. The space was marketed at $3.25 per sf.
Adam Faulk with Jackson & Cooksey Inc. in Dallas represented Owens & Minor. Mark Miller with Dallas-based Robert Lynn Co. handled talks for the Trade Group.
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