"It was an early renewal in advance of the anticipated sale of the property," Robert Deptula, principal for Transwestern in Dallas tells GlobeSt.com. He and Transwestern principal Nora Hogan worked out a long-term lease for as-is space in the 709,920-sf Frankford Trade Center at 2828 Trade Center Dr.
Deptula says the five-year tenant really didn't shop the deal because it's so close to its 659,535-sf main campus at 1649 Frankford Rd.--last year's top deal in Dallas/Fort Worth. The Transwestern team negotiated the renewal directly with CalWest's portfolio asset manager, San Francisco-based Rreef, which had Bryan Marsh doing its bargaining.
The 150-dock warehouse, developed five years ago, has 121, 440 sf of open space. Jean Russo with Cushman & Wakefield of Texas Inc. is marketing the warehouse space for $3.50 per sf, triple net, according to the North Texas Data Exchange.
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