X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, TX-Less than two months after Panattoni Development Co. completed its Forum 303 Crossing Business Park, the developer has gotten its first tenant. Cleveland Steel Container Corp. signed a 69-month lease to take 52,000 square feet of space in the center’s 364,129-square-foot Building B, with move-in planned in January.

The tenant, a container firm, will be using the new space at 3221 Arkansas Ln. for distribution of plastic, steel and tin containers for the paint industry. Stan McClure and Steve Koldyke of CB Richard Ellis negotiated on behalf of Panattoni Development. Jim Hazard of Transwestern represented the tenant. The quoted lease rate is between $.28 to $.48 per square foot, net.

John Patterson, Panattoni’s senior development manager, tells GlobeSt.com that Building B and neighboring 140,837-square-foot Building A were online at the beginning of November. Construction of both speculative buildings was launched in late 2008.

Patterson says that despite the economy, activity during the past 60 days has been very good. “We’re working another deal now, and before you known it, we could have Building B 40% leased,” he says. Though he declined to mention specifics about the deal, as its still under negotiation, he says the transaction could be completed next month.

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
  • 1 free article* every 30 days across the ALM subscription network
  • 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 © 2021 ALM Media Properties, LLC. All Rights Reserved.