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IRVING, TX-Nippon Express USA Inc. has renewed 67,535 sf of class A industrial space at its seven-year address in Irving, taking another short-term lease for a second year of “evaluating the market.”

Noel Hutcheson in the Dallas office of Cushman & Wakefield of Texas Inc., tells GlobeSt.com that Nippon isn’t looking to decrease its footprint, but is weighing all factors–pro and con–about market opportunities. The renewal kicks in Oct. 1, just as the old pact expires, he says. The logistics provider cut a “market rate” deal in a submarket that’s getting $3 per sf to $4 per sf.

The building at 8065 Tristar Dr. serves as Nippon Express USA’s regional headquarters, with 10,000 sf of office space and a location near the Dallas-Fort Worth International Airport. Vantage Cos. built the structure, owned by Jefferson Pilot Insurance Co. of Richardson, TX, about seven years ago for the Tokyo-headquartered Nippon.

The C&W team in Dallas of Rick Hughes, senior director, and Hutcheson bargained the terms for Nippon along with Hitoshi Aratani in C&W’s New York City office. Lynn Murray of Vantage Cos. in Dallas represented the building owner.

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