Wallis, TX-based R&M Energy Systems Inc. leased 12,478 sf for more than two years, and AmerCable Inc., a tenant in the two-year-old building since December 2003, expanded from 31,287 sf to 38,822 sf in a seven-year deal.
Although the values of the leases were not disclosed, space in the business park leases for $6.25 per sf, according to Walter Menuet, a vice president of Vantage Cos. who represents the owner, Denver-based Dividend Capital Trust. "Both of these tenants were attracted to the building's location, which is right on Beltway 8 and Highway 290," he says.
Menuet tells GlobeSt.com that R&M Energy Systems' corporate headquarters and plant in Wallis is not a convenient location for the oil and gas equipment supplier. "They took this space to be closer to their customers," he says. "They needed to be more in-town." Moreover, he notes that the firm is expanding its product lines and needed space to showcase their products. R&M Energy Systems was represented by Brian Corristan of Houston-based Caldwell Watson.
Similarly, AmerCable is expanding its product lines, Menuet says. "They did not want to miss a chance to get more space," he explains. The cable supplier was represented by Dave Besserrer of Dallas-based DMC Corporate Services.
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