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HOUSTON-A North Texas furniture distributor has leased 21,138 sf of office/warehouse space for its first location in the southern part of the state. The lease kicks in Dec. 1, but the lights most likely won’t go before Jan. 1.

Charmax of Houston LP, a division of Charmax USA from Carrollton, took down shell space in a 133,931-sf structure at 10511 Kipp Way with a five-year agreement, Ryan Cropper with Houston-based Vantage Cos. tells GlobeSt.com. The industrial space was marketed for 40 cents per sf, triple net, and $5 per sf for a tenant-improvement package. “We stayed within that,” he says, adding that finish-out has just gotten under way.

The Beltway 8 Business Park location puts the distributor into a growing pocket of furniture wholesale operations, according to Cropper, who teamed with Vantage’s Walter Menuet to win the deal. “This will be a good choice for them to expand their business in the market,” Cropper says.

Cropper says lease, which was at the bargaining table two months, boosted occupancy to 79% in the four-year-old structure. And though, Vantage was up against other building owners, he says the talks produced a market-rate deal with Charmax, which was represented by Michael Hill Properties LLC of Houston.

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