Alumni Logistics, better known as Transgroup Worldwide Logistics, held tight to 34,130 sf to complete a project for a local client, Steven Schneider, a senior vice president for with Grubb & Ellis Co.'s Dallas office, tells GlobeSt.com. "They're still wrapping up a project they're working on, which was the original need for this facility," he says about the new deal that's in place for 1220 Champion Circle. The tenant's broker says the firm moved into the building in early June 2005, opting to roll the sublease to a direct deal rather than relocate the operation to its larger hub near Dallas/Fort Worth International Airport.
The 120,744-sf warehouse, owned by the San Francisco-based AMB Property I LP, is part of Valwood Industrial District, where the latest market report shows distribution rents hover $3.40 per sf. Tom Kuhlman, senior vice president with Lincoln Property Co. in Dallas, represents AMB.
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