After a four-month search west of Dallas, the publicly traded AGCO Corp. from Duluth, GA landed in the last open block at 2113 Exchange Dr., a 141,626-sf warehouse owned by Denver-based ProLogis. The space was marketed at $2.85 per sf, triple net.
The Great Southwest has enough available stock "for us to negotiate an aggressive deal," Chris Jackson, managing director and partner for Dallas-based Stream Realty Partners LP, tells GlobeSt.com. "It was far less than they were paying for a much older building." AGCO's former location along Lemmon Avenue was owned by Sewell Automotive Cos., which worked out a lease buyout so the Lexus-Cadillac dealership could expand, according to Jackson.
Stream associate David Duwe partnered with Jackson on the relocation search and negotiations. ProLogis had in-house marketing representative, Joe Rudd, bargaining its terms.
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