The lease fills "one of our key vacancies," says John Fainterwith Dallas-based Holt Cos., who leases the industrial space forbuilding owner, Sealy & Co. Inc., with offices in Dallas andShreveport, LA. He tells GlobeSt.com that the single-user structureat 5101 Statesman Dr. in Irving was empty about two years, butdidn't fall under Sealy's control until March when it bought a1.8-million-sf industrial portfolio in Dallas/Fort Worth andHouston from TA Associates Realty Inc. of Boston.

The single-user design, ample parking for returns anddistribution and loading docks at the front were the deal-makers."That's what drew Emerson to the deal," he says, "because there'smore control over security for their product...no shared parking."The building, gutted for make-ready space, has been on the marketfor $3.25 per sf net. Tenant improvements are underway, with thecrew carving out 5% for office space.

Fainter and Kurt Griffin with Cushman & Wakefield of TexasInc. spent a couple months negotiating the lease. "It was a gooddeal for the owner and a good deal for the tenant," Fainter says.Emerson Radio Corp., founded in 1948, will be relocating from 13700Benchmark Dr. in Farmers Branch.