X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-Ingersoll Rand Co. Ltd. will consolidate two locations in August to Pinnacle Business Park, becoming the first tenant for the small-user, flex industrial space since it delivered nine months ago. The top-ranked corporation has leased 26,550 sf in the 181,050-sf, three-building development.

The Hamilton, Bermuda-based Ingersoll Rand signed a seven-year lease for a 47,600-sf structure at 4310 Adler Rd., Al Blaine, executive vice president and development partner for the Bradford Cos. in Dallas, tells GlobeSt.com. “We hope to have them moved in by the end of August,” he adds.

Blaine says the pipeline of talks would fill another 50,000 sf, some of which should be finalized in the coming weeks. The industrial space is quoted at $4.95 per sf, with $6 per sf to $15 per sf part of the bargaining as a finish-out allowance.

Blaine attributes the nine-month stretch for the first tenant to the “sticker shock” for the “first new small-user, multi-tenant industrial product that’s been built in that market in 25 years.” The 12.5-acre, Interstate 30-fronting park has shallow-bay spaces from 10,000 sf to 50,000 sf.

According to Blaine, Ingersoll Rand is consolidating two locations–8901 Directors Row in Dallas and 600 E. Centre Park Blvd. in DeSoto. Gary Lindsey, senior vice president in Dallas for Grubb & Ellis Co., represented Ingersoll Rand.

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
  • 1 free article* every 30 days across the ALM subscription network
  • 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
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.