HOUSTON-Transport Management Consultants Inc. has signed a lease in excess of five years for the 235,854-sf balance of the 341,784-sf Southland Distribution Center 2, vacated last fall by Home Depot. Though the lease value is being kept under wraps, comparable industrial space in the area goes for $4 per sf to $5 per sf, triple net.
Ross Matthews, vice president for Aurora, CO-based ProLogis, says other prospects had examined the 2750 Holmes Rd. opening after Home Depot vacated in third quarter 2005. "This is a multi-tenant building by design," he tells GlobeSt.com. "Many potential tenants were looking at it and we could have gone in various directions with deals. But Transport Management was sizeable and that helped us make the decision." The logistics operator, planning to move in Oct. 1, is having the space retooled as part of the deal.
Transport Management Consultants, currently at 8000 Market St. on the city's east side, will use the space as its headquarters as well as a warehousing and distribution facility for subsidiary Red Oak Logistics. It will share the building with Allied Fittings Inc.
In a press release, Transport Management president and founder Vincent Guariglia says Southland was the right choice due to its south-central location, which puts it within easy access of Hobby International Airport, major highways and the Port of Houston. Bob Berry of the Staubach Co.'s Houston office represented the tenant while ProLogis' in-house team bargained its terms.
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