X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

STAFFORD, TX-Two upcoming relocations have boosted preleasing to 38% for the speculative 241,800-sf Stafford Distribution Center. The 10-year deals will fill 92,820 sf in Duke Realty Corp.’s newest project.

Miller Brothers Floors and Redi Carpet each took 46,410 sf in the warehouse/distribution center on 13 acres at 10225 Mula Rd. Duke Realty began construction in August 2007. The building, set to come on line in May, is being marketed for $4.56 per sf, net.

“Both tenants had higher office finish so the TIs were higher. But overall, the rate was close to pro-forma after TIs were backed out,” says Cory Driskill, senior leasing representative in Indianapolis-based Duke’s Houston office. He represented Duke Realty in both lease transactions.

“Both businesses wanted to stay in Stafford and we represented a good, newer alternative,” Driskill tells GlobeSt.com. Miller Brothers Floors is at 12950 S Kirkwood Rd., about 1.5 miles west of its new office. Redi Carpet’s is located at 12802 Capricorn Dr., less than a mile west of Stafford Distribution Center.

Driskill says Fort Bend County’s growth and its low-tax environment is attracting other businesses to Stafford Distribution Center and similar projects in the area. He says Duke is talking to several groups interested in taking the remaining space. “We won’t be fully leased by the May opening, but I’m fairly confident this will probably be fully leased by Q3 2008,” he adds.

Dallas-based Staubach Co.’s Bob Berry, executive vice president and partner, and Jarret Venghaus, vice president, both in Houston represented Miller Brothers Floors. Cameron Tapley, senior vice president in Grubb & Ellis Co.’s Dallas office, and senior vice presidents John Nicholson and Doug Nicholson in the Houston office represented Redi Carpet.

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.