X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, TX-Taking the space in as-is condition, a distributor of machinery parts is settling into 55,376 sf in the Great Southwest Industrial District. The six-year lease drove the firm’s relocation from a smaller industrial location near Love Field in Dallas.

After a four-month search west of Dallas, the publicly traded AGCO Corp. from Duluth, GA landed in the last open block at 2113 Exchange Dr., a 141,626-sf warehouse owned by Denver-based ProLogis. The space was marketed at $2.85 per sf, triple net.

The Great Southwest has enough available stock “for us to negotiate an aggressive deal,” Chris Jackson, managing director and partner for Dallas-based Stream Realty Partners LP, tells GlobeSt.com. “It was far less than they were paying for a much older building.” AGCO’s former location along Lemmon Avenue was owned by Sewell Automotive Cos., which worked out a lease buyout so the Lexus-Cadillac dealership could expand, according to Jackson.

Stream associate David Duwe partnered with Jackson on the relocation search and negotiations. ProLogis had in-house marketing representative, Joe Rudd, bargaining its terms.

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. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

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

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