X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CARROLLTON, TX-A local furniture distributor is settling into 40,493 sf of the 156,000-sf Venture Distribution Center I following a staged move and expansion from the Tarrant County bedroom community of Bedford. EastGroup Properties Inc.’s new tenant has started out with a five-year lease.

Segue Interior Solutions searched the market six to nine months, touring a number of buildings before narrowing talks to 1100 Trend Dr. James Vanderslice, senior vice president in Grubb & Ellis Co.’s Dallas office, tells GlobeSt.com that the dealmakers were “the good economics, good condition and good location, all the things you look for.” The search ended at a building close to Interstate 635 and US Hwy. 183 freeways, putting Fort Worth into a reasonable commute as it does Dallas for the distribution company, which also was key to the final decision, he says, adding the operating space doubled with the move from 2001 Reliance Pkwy.

Vanderslice says the tenant took as-is space, with just a small office finish-out. Grubb & Ellis associate Monte Tate partnered with Vanderslice to work out the deal. Ken Wesson, principal with Lee & Associates Dallas, represented the Jackson, MS-based EastGroup Properties. Comparable space in the Carrollton submarket is going for $3 per sf, triple net.

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.