Chambers Street Properties (NYSE:CSG), a net lease industrial and office real estate investment trust, announced it has signed two long-term leases at 505 Century, bringing the warehouse/distribution property located in Allen, Texas, to 100% occupancy.
- Texas Valve & Fitting Company, LLC signed a long-term lease totaling 22,400 square feet. The company is a developer and provider of fluid system components throughout North Texas.
- Standex International Corporation (NYSE:SXI) signed a long-term lease totaling 33,144 square feet. Standex is a multi-industry manufacturer in five broad business segments: Food Service Equipment Group, Engineering Technologies Group, Engraving Group, Electronics Products Group, and Hydraulics Products Group with operations throughout the United States and several international countries.
“We believe the location and quality of the building was an integral part in both companies’ strategic plans,” said Glenn Wylie, Assistant Vice President, Portfolio Management, Chambers Street. He added, “505 Century, which was built in 1997, has exceptional interstate access and is situated in the northeast submarket along the Richardson/Plano Telecom Corridor in Metro Dallas.”
Chambers Street owns and operates more than 2.5 million square feet of warehouse/distribution properties in the area.
About Chambers Street Properties (NYSE:CSG)Chambers Street is a leading net lease industrial and office real estate investment trust that focuses on acquiring, owning and operating high-quality warehouse/distribution and office properties leased to creditworthy tenants. As of June 30, 2013, Chambers Street’s $3.3 billion portfolio (at cost) comprises 129 properties, encompassing 34.2 million rentable square feet. For additional information, please visit www.ChambersStreet.com.