LOGISTICS POINTE/GARLAND ANNOUNCES

NEW 146,000 SQUARE-FOOT TENANT

DALLAS – June 10, 2014 – Westmount Realty Capital, LLC, a Dallas-based real estate investment company, is pleased to announce a new lease for Logistics Pointe/Garland with Garden Ridge, LP.  The 146,600 square-foot lease is for warehouse space and associated truck trailer parking.  

Garden Ridge was founded in 1979 and began as Garden Ridge Pottery. The chain has grown to over 65 stores in over 21 states and is the home décor superstore that offers a vast assortment of products at affordable prices, including home accent items, rugs, furniture, wall art and more.

Logistics Pointe/Garland located at 2600 McCree Road in Garland, Texas, was acquired by a Westmount affiliate in June 2012.  The property, located immediately adjacent to Interstate 635 at McCree Road, has a prime location in the northeast Dallas industrial submarket, the second largest and among the most active in DFW.  Originally built in several phases as a single-tenant, owner occupied Safeway (Tom Thumb) regional distribution center, the property currently is a 1.13 million square-foot dry storage and warehouse center plus 40 percent freezer/cooler space situated on a 66-acre rail-served site.  Westmount has completed major improvements on the interior and exterior including painting, signage, lighting, parking lot improvements, compliance and utility upgrades, refrigeration equipment and upgrades, along with a new, attractive guard station at the entrance. 

When acquired, the property was 70 percent leased to several strong national and regional tenants.  Current leasing and the addition of Garden Ridge brings occupancy to approximately 85.5 percent.  Many of the current tenants are in the food distribution industry such as Provide Commerce (Pro Flowers and Shari’s Berries), Brothers Produce, LaBodega Meat and Calavo Growers.  The property also serves tenants in the supply chain management and recycling transportation such as National Distribution Centers and Greenstar Mid-America. 

Nathan Lawrence of CBRE was the tenant broker in the transaction, and David Sours and Kevin Kelley of CBRE represented the Landlord. 

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