Ingersoll Rand Inks Spec Park's First Deal

DALLAS-Ingersoll Rand Co. Ltd. will consolidate two locations in August to Pinnacle Business Park, becoming the first tenant for the small-user, flex industrial space since it delivered nine months ago. The top-ranked corporation has leased 26,550 sf in the 181,050-sf, three-building development.

The Hamilton, Bermuda-based Ingersoll Rand signed a seven-year lease for a 47,600-sf structure at 4310 Adler Rd., Al Blaine, executive vice president and development partner for the Bradford Cos. in Dallas, tells GlobeSt.com. “We hope to have them moved in by the end of August,” he adds.

Blaine says the pipeline of talks would fill another 50,000 sf, some of which should be finalized in the coming weeks. The industrial space is quoted at $4.95 per sf, with $6 per sf to $15 per sf part of the bargaining as a finish-out allowance.