"This start-up company needed a 10,000-sf to 15,000-sf buildingwith a crane, says Travis Land, an associate with NAI Houston."Pacer also wanted to be in northwest Houston." Land and NAI's JohnFerruzzo represented Pacer-PSI in the lease negotiations for12243-B FM 529 while the local building owner, Texas DevelopmentCo., was had in-house representatives, Stephen Marmion and CathyWilson, bargain its terms.
Land tells GlobeSt.com that Pacer-PSI looked for roughly 30 daysbefore narrowing its options to two buildings. The company, whichemploys 10 people, chose Northwoods Industrial Park for theeconomics and location. "Its competitors and customers are locatedin the park," he says.
Pacer-PSI's lease brings the 30,000-sf, duplex to fulloccupancy. Built in the 1980s, the building leases for $4.56 persf, modified gross.
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