(Read more on the industrial market.)
FLOWER MOUND, TX-US Smokeless Tobacco Brands Inc. has grabbed 20,100 sf in an 84-month lease for Granite Properties' under-construction Lakeside Commerce Center. The Stamford, CT-based company, which manufactures Copenhagen and Skoal, will move in Feb. 1.
Bill Dowd, senior vice president of CresaPartners in Dallas, tells GlobeSt.com that the firm's been shopping the market for one year to get expansion space for a regional distribution center. The just-signed lease ropes off space in the rear building of the 43-acre development along Lakeside Parkway.
"They are growing significantly. And, they needed a facility that they could expand and put their warehouse and office together," Dowd says. "They've taken plenty of room to add to their head count." The operation is finishing up a 10-year stay in 13,000 sf at 8101 Ridgepoint Dr. in Irving, where it also has been leasing a small off-site warehouse. The move-out will coincide with the lease expiration, according to Dowd, who scoured Irving, Coppell and Flower Mound for a relocation and expansion spot.
Jeff Jackson, industrial leasing manager for the Dallas-based development company, negotiated the pact with Dowd. When the 152,000 sf of spec buildings broke ground, Jackson was quoting $9 per sf and a $15 per sf finish-out allowance for 61,800-sf building D, situated at the property's rear, and the 90,200-sf building A at 1600 Lakeside Pkwy.
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