Noel Hutcheson with Cushman & Wakefield of Texas Inc. tellsGlobeSt.com that the stair-step lease was packaged so therelocation could start and be done before the Feb. 1 kick-in datefor the new pact at 1100 28th Ave., a 227,200-sf distributioncenter owned by New York City-based ING Clarion Partners. Nipponwill add 15,000 sf with the move from 8065 Tristar Dr. inIrving.

Hutcheson says a couple dozen buildings met the requirementbefore the short list was pared to "two or three." He says thewinning deal is a turnkey package with a fully overhauled 6,000-sfoffice and minor upgrades to the second-generation warehouse space."We did get a tremendous deal," he says, citing the search wasconfined to in and around the airport. "Total occupancy costs werevery competitive." According to NTCAR Data Exchange, total expensecosts for the space is 45 cents per sf. C&W's latest marketreport pegs the weighted average industrial rate in the airportarea at $3.35 per sf.

ING and its team of Trammell Crow Co. brokers "were able to meetour aggressive timeframe," Hutcheson says. "Timing was absolutelycrucial." The on-airport lease goes into effect just as the Tristardeal expires, according to Hutcheson.