Lebco Industries LP re-upped at 10676 King William Dr., a 133,979-sf industrial property owned by the Jackson, MS-based REIT, EastGroup Properties Inc. The logistics provider kept the same amount of operating space that it's had since it moved into the building five years ago, Craig Jones with NAI Robert Lynn in Dallas tells GlobeSt.com.
Teaming with NAI's Matt Elliott, Jones says they searched north of the Walnut Hill-Stemmons Freeway submarket and as far south as Pinnacle Park along Interstate 30. "I think the overall deal in place helped to keep them in place," Jones says. "I feel at the end of the day, we made a very good market deal."
Lebco uses the EastGroup warehouse as a distribution point for a Monroe, MI-based La-Z-Boy Inc. account. Ken Wesson, a founding principal for Lee & Associates DFW, represented EastGroup at the bargaining table. The space has been on the market for $4.25 per sf per year gross.
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