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65,522-SF Lease Kicks In March 1

GRAND PRAIRIE, TX-Louisville Ladder will move to the Great Southwest, signing a five-year lease for its regional distribution center.

By Connie Gore | Updated on February 27, 2008

GRAND PRAIRIE, TX-Louisville Ladder, a division of St. Louis-based Emerson Electric Co., is boxing up to move March 1 into 65,522 sf in the Great Southwest Industrial District. The five-year lease for the regional distribution center was in the market nearly one year.

The Louisville, KY-based ladder maker, touted as the largest in North America, was looking to shave per sf costs by exiting the D/FW Airport submarket, says its broker, Brett Owens of Dallas-based Henry S. Miller Commercial. “They didn’t need to be near the airport,” he tells GlobeSt.com. “They were looking for cheaper rent.” The long search ended at Chicago-based First Industrial Realty Trust’s Parkway Distribution Center at 823 Heinz Way in the Great Southwest.

In the Great Southwest, 1970s-era industrial space can be had for $2 per sf net unlike the airport submarket where buildings are newer and prices higher. Market reports put the airport area’s distribution center space at $4.32 per sf on average.

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