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Deal of the Week: Bulking up in Pasadena
By Katherine Feser for the Houston Chronicle
Logistics and supply chain management company Dunavant has boosted its space in Pasadena's Bay Area Business Park in a lease expansion that will enable it to add chemical warehousing to its offerings.
"We've continued to add to our customer base with existing customers and some new customers," said Richard McDuffie, chief operating officer of Memphis-based Dunavant. "We just got to a point where we needed to expand to support our growth."
The company has leased an additional 212,000 square feet of chemical warehousing space, bringing its footprint at the Pasadena facility to 577,000 square feet. That is an increase of nearly 60 percent.
The business park, owned by Principal Real Estate Investors, is on Bay Area Boulevard near Red Bluff Road within 5 miles of the Barbours Cut and Bayport terminals at the Port of Houston.
Dunavant has been a tenant at the Bay Area Business Park for more than two years. With the expansion, the company will provide warehousing and distribution of consumer products, retail goods, agricultural products and chemicals.
"It is adding to our ability to handle more hazardous-type chemicals," McDuffie said.
McDuffie declined to divulge names of Dunavant's customers, but he said the list includes Fortune 500 companies and private companies.
Dean Bay serves as director of warehousing and distribution for Dunavant in Houston.
Dunavant gained a foothold in the Houston market with the acquisition of Trans Gulf Transportation six years ago. Nearby, Dunavant operates a container drayage and trucking operation on about 15 acres in La Porte. The leased facility also has a cross-dock facility with 28 bays.
Kyle Valentine, regional managing partner at Stream, and Justin Robinson, managing partner of leasing at Stream, represented the landlord in the lease expansion.
See original article here: http://www.houstonchronicle.com/business/real-estate/article/Deal-of-the-Week-Bulking-up-in-Pasadena-6747247.php.