The deal pushes the 143,000-sf office/warehouse at 925 Freeport Pkwy. to 100% occupancy--thanks to the black book of Gary Lindsey, senior vice president with Grubb & Ellis Co., who put both tenants on Denver-based ProLogis' doorstep. Lindsey tells GlobeSt.com that Hussman will move when its lease expires at 1601 Valwood Pkwy. Finish-out is under way on the office/warehouse shell, with the work including 7,000 sf of office.
Lindsay says buildings in and around the Valwood and Freeport submarkets were evaluated. "This location just worked well for them. The location made it the right one," he says. The building, sporting 30-foot clear heights, is situated close to Interstate 635. In July 2007, Audio Visual Services Group Inc. leased 81,750 sf of the spec building.
ProLogis isn't commenting on the deal, but its dealmaker was Joe Rudd. Freeport Corporate Center 6 had been marketed for $3.75 per sf, triple net.
The Houston-based Hussman, a Houston-based division of Bermuda-headquartered Ingersoll Rand's climate control technologies sector, has just one distribution center in Dallas/Fort Worth. The Carrollton team handles sales, installation and service of refrigeration systems and food merchandising units for commercial users like supermarkets, warehouse clubs, drug stores and convenience stores.
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