X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-A 198,363-sf industrial building has reached 100% occupancy, thanks to a 93,729-sf lease from CenTex Periodicals Inc., a wholesale book and newspaper distributor. The inbound tenant has signed a 10-year lease for the northwest submarket space.

The Shreveport, LA-based CenTex will take over space formerly occupied by Dupar Inc. at 8708 W. Little York Rd. The space has been empty about 18 months.

Joseph Smith, an associate in CB Richard Ellis’ Houston office, tells GlobeSt.com that the new tenant will move into the building in March. Smith, who represented the building owner, LIT Finance LP of Dallas, says space was quoted at 39.5 cents per sf net, with a $1.80 per sf tenant-improvement allowance. He says one of the dealmakers was Centex “liked this area.”

Smith says the owner built the warehouse about seven years ago. Other tenants are Wald Relocation Services Ltd. and C 4 Omni Group. Neither one’s lease will roll any time soon, according to Smith.

Faron Wiley, vice president with CBRE, teamed with Smith on behalf of the building owner. Brian Corriston, senior commercial client service provider for the Caldwell Cos. in Houston, represented the tenant.

LIT’s building is in a high-demand submarket for industrial tenants. The 36.5-million-sf submarket is 4.8% vacant, according to Grubb & Ellis’ fourth quarter 2007 report.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.