X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.