Burris & Associates Inc. is remaining a short while longerat 1208 Viceroy Dr. in Dallas, where it's had a regionaldistribution center since 1993. But in May, it will move 10 milesnorth to 2005 McDaniel Dr. as the final step in a yearlong searchfor expansion space, April Robert. associate with NAI Robert Lynnin Dallas, tells GlobeSt.com.

Besides Texas, Burris uses the North Texas warehouse as adistribution point for Oklahoma, Louisiana, New Mexico andArkansas. For the ease of the transition, the firm signed ashort-term lease for the Viceroy Drive building.

Robert and NAI Robert Lynn's executive vice president JeffMercer negotiated the double deal, with Michael Peinado, a vicepresident for locally based Lincoln Property Co. working out termsfor the owner of the new location. The 216,151-sf, multi-tenantwarehouse, owned by San Francisco-based AMB Property Corp.'s USinvestment arm, has 196,650 sf still on the market at a negotiablerate. In the Carrollton area, comparable space, on average, bringsabout $3.50 per sf, according to a recent market report by Cushman& Wakefield of Texas Inc.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.