Electronics, home appliance and furniture retailer Conn’s Inc. signed a new lease for the entire 353,602-square-foot distribution facility at 6900 International Parkway, which is located in the Sharyland Business Park in McAllen, Texas. Newmark Grubb Knight Frank (NGKF) represented building owner, Worthington Property Investments LLC, in the negotiations.
The facility benefits from the park’s convenient proximity to U.S. Expressway 83 and the Anzalduas International Trade Bridge that offers a direct distribution route between the U.S. and Mexico border.
“It’s an ideal location for the tenant, especially to support its 11 retail locations across Texas,” said Bob Crenshaw, a managing director in NGKF’s Newport Beach, Calif., who represented the landlord with Chuck Berger, a former director at NGKF, and in association with David Chew and Paul Douglass with the Newmark Grubb Prodensa Select office in McAllen, Texas.
Billy Gold with CBRE in Houston represented the tenant in the transaction.
Other high-profile tenants within the Class A, 1,200-acre industrial park include Panasonic, Emerson Electric, Black & Decker and Motorola.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets. For further information, visit www.bgcpartners.com.