DENTON, TX-A 91-year-old local company, bought last year by its San Antonio competitor, has grabbed the first block of spec space at Granite Point Business Park. The tenant, putting a consolidation plan into play, has leased 60,153 sf of the 297,500-sf, two-building project.

Morrison Milling Co., bought by C.H. Guenther & Son of San Antonio, has signed a three-year lease for Building 1 at 2300 I-35W in a 45-day round from the proposal to the finish line, says Jeff Jackson, industrial leasing manager for Dallas-based Granite. He says the Denton project was up against industrial buildings in Valwood and Lewisville, but Granite Point’s immediate availability helped to snag the tenant. “They’re just moving extremely quickly,” he tells, citing a mid-February move-in to space being retooled with 1,000 sf of office and the balance as warehouse in Granite’s 19.9-acre development.

Morrison Milling intends to use Granite Point to store bagged grains before processing and then as a distribution point for processed goods. As a result, the finish-out is more equipment-related due to the extensive racking system that’s being installed, according to Jackson. He doesn’t know the number of locations that will be brought under one roof, but confirms that it’s a consolidation that ultimately shaved some storage space for the company.

Craig Jones and Matt Elliott with Dallas-based NAI Robert Lynn represented the flour and corn miller, which produces dry and frozen products. Jackson along with Chris Jackson and Michael Hagger with Stream Realty Partners LP, also in Dallas, represents Granite. The quoted rate is $5.25 per sf net for rent and $6 per sf as the tenant-improvement allowance for the 142,000-sf and 152,500-sf warehouses.

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