The locally based Air Win International Inc., a distributor of ceiling fans, lighting and accessories, did a quick look around the market, focusing on Carrollton, and then signed to stay at 901 Avenue N. "After they looked at everything, they said the best thing to do was renew," Michael Spain, marketing director in the Great Southwest for Dallas-based Bradford Cos. He tells GlobeSt.com that the deal went full circle in less than a month, with the tenant opting to hold onto the same amount of space without additional upgrades.
"There was a little free rent involved as an incentive," Spain says, adding the perk was in line with submarket conditions. "The Great Southwest is getting better. A lot of the concessions--free rent, TIs, moving allowances--are starting to tighten up again." At its last reading, the vacancy barometer was 14%, down 3% from a year ago.
Michael Stanzel with NAI Robert Lynn in Dallas represented the tenant. The deal keeps occupancy at 80% in a 160,000-sf structure owned by an Austin-based joint venture. The industrial space is on the market for $2.85 per sf.
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