HUMBLE, TX-DaVita Inc., an independent dialysis firm from El Segundo, CA, has signed a 10-year lease for 6,059 sf in the 165,977-sf Commons of Deerbrook shopping center. The dialysis center will open in the first quarter.
According to L. Ace Schlameus of Grubb & Ellis Co.'s Houston office, the transaction brings the 15-year-old community shopping center at 9616 FM 1960 Bypass to 75% occupancy. "There's a lot of activity going on there," he says.
Schlameus, along with Grubb & Ellis colleague Aaron Ace Schlameus, recently closed a deal in the center with Movie Tavern LLC, and are negotiating a lease for an additional 20,000 sf, which will push occupancy to about 95%. "This is a mixed-use center with some traditional tenants like the Black-Eyed Pea and Olive Garden," L. Ace Schlameus says.
Schlameus tells GlobeSt.com that the quoted rate of the property is $1.30 per sf to $1.75 per sf, with DaVita having landed in the higher part of the range and a tenant-improvement allowance of $15 per sf. And, he adds, "they'll be spending substantial money on build-out as well." Louis Carpenter with the Stamford, CT-based USI Real Estate Services Corp.'s Austin office represented the tenant in the negotiations.
Schlameus says the transaction has sparked some interest among other medical service companies. "We expect the synergy created by this tenant to create a new demand for space from the health-related sector," he says.
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