Expansion Need Drives 102,011-SF Flex Lease

HOUSTON-Citing the need for expansion, Polytex Fibers Corp. has taken down 102,001 sf in a three-year lease. The transaction fills the balance of the 150,000-sf multi-tenant flex building in the northwest submarket.

The polypropylene woven bag manufacturer has already relocated and launched operations at 9550 W. Wingfoot Rd. in Fairbanks Industrial Park. Edward Bane, partner with Holt Lunsford Commercial in Houston, says the tenant wanted to stay in the same submarket when it looked for new space. It ended up with a location right around the corner from its former distribution and office facility at 9341 Baythorne Dr.

“They wanted to stay near their other facility so they didn’t go too far,” says Bane, who represented building owner Realty Associates Fund IV LP of Houston. He teamed with Robin Moore, Holt Lunsford Commercial’s marketing director to work out the deal with the tenant’s rep, Rand Stephens, managing director with Mohr Partners Inc. in Houston.

Bane tells GlobeSt.com that Realty Associates also owned the building that Polytex Fibers vacated. “They had an existing relationship with the landlord, which is why they liked the new space,” he says.

Polytex Fibers took as-is space that once housed Central Pet Supply, the distribution arm of Central Garden & Pet Co. in Walnut Creek, CA. Central Pet Supply vacated the space in March 2007 when it relocated its regional distribution hub to Dallas.

The 10-year-old building has two other tenants: Carboline Co. Inc. and All My Sons Moving & Storage of Houston Inc. And, he adds that neither one has lease expirations coming due. The warehouse space was marketed for $4 per sf, triple net.