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LEWISVILLE, TX-Four Seasons Inc. and TIAA-CREF have reached an agreement over a 415,000-sf office/warehouse renewal just as the 8.5-year tenant was poised to take its deal to the market. As would be expected, the full-building lease was inked for the long term.

The office/warehouse at 1801 Waters Ridge Dr. was a build-to-suit for the division of Long Island, NY-based Standard Motor Products Inc. The tenant was down to one year on its lease when the renewal was signed, according to Trey Fricke, principal of Lee & Associates DFW. He and Lee & Associates’ principal Conrad Madsen III and director Mark Graybill represented the tenant.

Talks got under way nearly one year ago. “We were about to go to market when we came to terms with their existing landlord,” Fricke tells GlobeSt.com. “Standard Motor got significantly reduced rent and the landlord was able to significantly increase the term on their lease.” The distribution center, positioned on 9.3 acres, is one of three in Waters Ridge owned by the New York City-based investment group, which has Steve Trese, vice president in Dallas for Los Angeles-based CB Richard Ellis, in charge of leasing.

Fricke says new deal includes the first round of upgrades to the office and warehouse since it came on line. According to its website, the Four Seasons’ division uses the structure as a regional distribution center for automotive parts and the headquarters for all temperature control product lines for a 284-employee workforce.

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