HOUSTON-A&B Valve and Piping Systems LP has shifted its headquarters and manufacturing from Lafayette, LA to a just-completed industrial complex in the northwest submarket. The five-year lease for 44,550 sf opens the door for a phased move-in over a six-month period.
Tenant representative Graham Horton, an associate with Cushman & Wakefield of Texas Inc., tells GlobeSt.com that A&B looked at eight to 10 spaces in a three-to-four month period, settling early in the process on one of five buildings in the 282,025-sf Beltway Northwest Business Park. He says the quality of the building, developed by Transwestern and owned by SHT/Champions Green Ltd. of Houston, impressed the tenant as did the location at 4100-4500 N. Sam Houston Pkwy. West.
"It was a quick and swift transaction, we got through the terms and conditions and business points with few problems," Horton says. The lease went into effect May 1.
The pact's consideration isn't available, but the space is quoted at 35 cents per sf net, with $4.50 per sf for the tenant-improvement allowance. Horton says both parties came away satisfied with the deal, with the owner having a tenant taking down an entire building before it was shell complete. "Our timing was ideal because a lot of new product is coming on the market in northwest Houston," he says. "We got a favorable market rent and a great deal."
Darryl Noon, senior vice president with Houston-based Transwestern, represented the building's owner. The tenant's team also included C&W vice president David Cook, senior director Jeff Peden and associate director Marshall Davidson.
© 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.