The Shreveport, LA-based CenTex will take over space formerly occupied by Dupar Inc. at 8708 W. Little York Rd. The space has been empty about 18 months.
Joseph Smith, an associate in CB Richard Ellis' Houston office, tells GlobeSt.com that the new tenant will move into the building in March. Smith, who represented the building owner, LIT Finance LP of Dallas, says space was quoted at 39.5 cents per sf net, with a $1.80 per sf tenant-improvement allowance. He says one of the dealmakers was Centex "liked this area."
Smith says the owner built the warehouse about seven years ago. Other tenants are Wald Relocation Services Ltd. and C 4 Omni Group. Neither one's lease will roll any time soon, according to Smith.
Faron Wiley, vice president with CBRE, teamed with Smith on behalf of the building owner. Brian Corriston, senior commercial client service provider for the Caldwell Cos. in Houston, represented the tenant.
LIT's building is in a high-demand submarket for industrial tenants. The 36.5-million-sf submarket is 4.8% vacant, according to Grubb & Ellis' fourth quarter 2007 report.
© 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.