Newmark represented Central Pet, a division of Central Garden & Pet, in the signing of a 10-year, 120,000-square-foot industrial lease at 4038 Rock Quarry Road in Dallas, Texas.
Central Pet will occupy space within a 480,000-square-foot building at Pinnacle Park, which is owned by Denver-based DCT Industrial Trust Inc. The other tenant in the building is International Truck & Engine Inc. Central Pet plans to relocate its headquarters from its existing location in Houston.
Central Pet was represented exclusively by Nick Cangemi, a principal with Newmark’s Melville, N.Y. office, former N.J.-based principal Dan Frankel, Rebecca Griffin, managing principal, and Wilson Stafford, associate, both in Dallas. The landlord was represented by Craig A. Jones, of NAI Robert Lynn in Dallas, Texas.
“Newmark conducted an extensive analysis of industrial properties in the Dallas area on behalf of Central Pet. The company selected the building at Pinnacle Park due to its location, the newness of the building and the extensive amenities it featured,” said Cangemi. “We were able to negotiate favorable lease terms on behalf of our client.”
Centrally located near Interstate 30 and State Road 12, the building at 4038 Rock Quarry Road features 7,500 square feet of office space, 30-foot clear ceiling heights and 22 loading docks. “This location allows Central Pet to serve its customers more efficiently,” Cangemi notes.
In another transaction with Central Garden & Pet, Newmark was named the exclusive agent by Central Aquatics, a division of Central Garden & Pet, to sublease a 151,600-square-foot industrial building at 11990 Shiloh Road in Dallas, Texas. The building, which had been used as a manufacturing facility, is vacant. “The building is located in a highly desirable location in the Garland submarket of Dallas,” Cangemi says.
Based in Walnut Creek, Calif., Central Pet & Garden was founded in 1980 as a distribution company. Through a combination of strategic acquisition and internal investment, the company has evolved into a portfolio of leading brands in the lawn and garden supplies and pet supplies industries.
Newmark is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank operate from over 165 offices in established and emerging property markets on six continents. Last year, transactions were valued at more than $37.3 billion with annual revenues of over $537 million. With a combined staff of more than 5,300, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.