HOUSTON-Marking its first distribution center in the region, the Room Store has leased a 275,600-sf building for five years in Claymoore Business Park. The Richmond, VA-based retailer will move in March 1.
Located at 11711 Clay Rd., the 1999-constructed building was a build-to-suit for Igloo Products Corp. In early 2006, Igloo consolidated distribution and manufacturing closer to its corporate headquarters in nearby Katy, emptying the Claymoore Business Park building.
Leasing details aren't available, but Room Store's execs inked a deal for practically as-is space. Comparable space in the far west submarket goes for $4 per sf to $5 per sf, triple net. "It's a pure distribution facility and a cross-dock building with 52 doors," says Brian Gammill managing director for locally based Transwestern Commercial Services. He represented the building's local owner, Claymore Northwest Inc. It was formerly owned by Dallas-based Aid Association for Lutherans, formerly the Lutheran Brotherhood. Jeff Everist with CB Richard Ellis in Houston was the tenant's broker.
While location played a key factor in the decision, Gammill says the retailer also liked the idea that it could expand although there are no immediate plans right now to do so. "We've been working on this deal for awhile, for about a year," Gammill says. "Last year, they built a large distribution center in Dallas and wanted to get that done first. Houston was the next major market they wanted to serve."
Gammill tells GlobeSt.com that the one-million-sf Claymoore Business Park is at 93% occupancy with the Room Store deal. "We're negotiating with a couple of other tenants, but shouldn't have a problem finishing this," he says.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.