“We had a good amount of activity on this space. The market is tight so there are not a lot of vacancies in the Freeport-Las Colinas submarket,” says Joe Santaularia, market director for Dallas-based Bradford Commercial Real Estate Services. He and Bradford’s Brian Pafford, senior vice president and managing partner, picked up the leasing assignment for the 3.6-acre property last fall when it was bought by Summit Realty Ventures of St. Louis for its ArrowRock fund.
The rates and the ability to move into the space relatively quickly were the chief deal makers, according to Santaularia. “We had a substantial amount of office already built out,” he adds.
Conor McCarthy and Steve Holley Jr. of Jones Lang LaSalle represented Gerdau Ameristeel, which operates reinforcing steel plants in Farmersville in Collin County and Navasota near Houston. The publicly traded company is the second largest mini-mill steel producer and steel recycler in North America with more than 45,000 employees in 14 countries.