HOUSTON- Panattoni Development Co.’s Airtex Industrial Center, a 486,720-square-foot speculative industrial facility, has reached 100% occupancy in less than 12 months.
The developer filled the last vacant space by signing a three-year lease with Furniture Brands Inc., according to Don Dennis, senior vice president for Panattoni's Texas operation. The wholesale furniture importer will occupy 109,386 square feet in the class A project, which is located at 14810 North Fwy.
“We delivered this building spec last August – the worst time to do something like that since the 1980s – and we have been able to lease it 100%,” Dennis tells GlobeSt.com. “It has been well received by the marketplace at very good rates.” In addition to Furniture Brands, Airtex Industrial houses Ashley Furniture’s distribution center and Velocity Acquisitions, a third-party logistics provider.
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