Germany-headquartered Teadit, which manufactures and distributes gaskets, gasket sheets and joint sealants, will make the move in early July to 1455 E. Sam Houston Parkway South from 558 Garden Oaks Blvd. Faron Wiley with Trammell Crow Co.'s Houston office says Eastbelt's quoted rate is 34 cents per sf net, with a $3 per sf tenant improvement allowance. And he tells GlobeSt.com, the final deal was close to both rates.
In Houston, Teadit manufactures customized seals and gaskets and distributes "off-the-shelf products" for a sister company in South America, says Wiley, who represented the building owner, Eastbourne Investments of Williamsville, NY. Matt Minnis with Moody Rambin Interests Inc. in Houston was the tenant representative.
The deal puts the three-year-old, two-building park's 186,730 sf at 80% occupancy. "We're negotiating another lease that will get us above 90%. That should close within the next 30 to 45 days," Wiley adds.
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