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HOUSTON-A 79,740-square-foot short-term lease for pool and spa chemicals and supplies provider RAM Chemical and Supply has stabilized the 262,800-square-foot Westland I in the 50-acre Westland Business Park.

RAM Chemical, which lost its Katy, TX-based warehouse in a fire, has moved into the space at 8323 N. Eldridge Pkwy. and operations are underway. “We had the lease out, negotiated and signed in a matter of days,” comments David Hudson vice president of Duke Realty Corp., which developed and owns Westland I.

Though Hudson declined to cite the lease consideration, he tells GlobeSt.com it was in line with market rates. “This wasn’t a distressed comp,” he points out. “There wasn’t free rent or any kind of concessions with this.”

Jim Thompson with Grubb & Ellis Co.’s Houston office represented the tenant. Cory Driskill, Duke Realty’s senior leasing representative, was on hand for the ownership.

Duke Realty launched construction on Westland I in October 2006. Hudson says the shell project was completed by February 2008.

At the time, Simplex Grinnell LP and Recall Total Information Management signed to take a combined total of 98,000 square feet. Previous to that, Bray International Inc. took down a little more than 84,000 square feet.

The final lease would not come for awhile, however. Hudson acknowledges the schedule fell behind by around two or three months, but is happy with the time frame, especially given the economic environment.

In the meantime, nineteen acres adjacent to Westland I is up for sale at a $4.50 per square foot ask. Hudson says Duke Realty is in no hurry to sell the property and is remaining firm on the asking price.

“We have offers, strong offers,” he adds. “But we think that’s one of the better holdings in our land portfolio, and we’ll continue holding it until the asking price has been met.”

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