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HOUSTON-Liberty Property Trust has fully leased a 315,628-sf spec building that it bought last year during its construction. Three tenants have signed long-term leases for the Greens Crossing project, which was completed in third quarter 2007.

Joe Trinkle, vice president and city manager for Liberty’s Houston office, says EastCoast Mouldings Co. of North Wilkesboro, NC has already moved into its 157,814 sf while the other two tenants will move in within the next month. He tells GlobeSt.com that the lease-up was ahead of schedule.

Inbound are Consolidated Electrical Distributors Inc. of Westlake Village, CA and American Tire Distributors Holdings Inc. from Huntersville, NC, each taking 78,907 sf. The quoted rate wasn’t available, but the submarket is getting $6 per sf to $7 per sf, triple net for comparable space.

“We’d bought the building last year from Simmons Vedder while it was still under construction,” Trinkle says. “For us, this represented a rapid leasing assignment.” As a result, he says Liberty is planning to build another structure on a nearby 15 acres given the success of 850 Greens Pkwy. A ground-breaking date hasn’t been set, but he says it will take place this year.

Faron Wiley, vice president in Houston for CB Richard Ellis, represented Liberty Property Trust for the three transactions. Clay Peeples, director with Boyd Commercial LLC in Houston, negotiated for EastCoast Mouldings. Consolidated Commercial’s brokers were senior executive Brian Corriston and Bill Ginder, vice president with Houston-based Caldwell Cos. American Tire’s tenant rep was Adam Faulk, senior vice president in Houston for Dallas-based Jackson & Cooksey Co.

Liberty bought 850 Greens Pkwy. and two adjacent buildings in February 2007. The 110,023-sf warehouse at 11201 Greens Crossing Blvd. has 81,000 sf left to fill and a 149,514-sf building at 860 Greens Pkwy. has about 94,000 sf available.

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