Spir-It Inc., a manufacturer of customized molded plastic items like cutlery and coffee stirrers, has just begun the planning process to add the rail spur to 3709 Pipestone Rd. The long-time tenant plans to apply part of its improvement allowance to the project and use the balance for minimal upgrades to the 22-year-old building's interior, according to John Gorman with Holt Lunsford Commercial in Dallas, who represents the property owner, Des Moines-based Principal Financial Group.
Gorman tells GlobeSt.com that talks with Spir-It began last summer for the lion's share of the office/warehouse, which went dark about one year ago when another tenant filed bankruptcy. In the interim, he says the building, marketed for $3.10 per sf triple net, was filled or partially filled by tenants on short-term leases. He says Spir-It's lease was set to expire at year's end.
Gorman says the rail spur, which will put a staging area at the building's silo to receive its resin shipments, will be added this year. Art Leichner with Dallas-based Jackson & Cooksey Inc. represented Spir-It. "It's good for them and good for everyone," Gorman points out about the permanent upgrade to the structure.
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