In one fell swoop, Hodges leased out the entire first 258,000-sfbuilding to Miller Zell, a creator/seller of merchandising programsfor retailers. The estimated value of the seven-year lease withrenewal options is $12.6 million. Area rents average $6 psf to $8psf.
The tenant will use the property for a logistics centercomprised of warehousing, fixture assembly and fulfillmentoperations. Miller Zell is consolidating its operations. About 30employees will initially work at the new building.
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