Summit Real Estate Group is pleased to announce that Sharps Compliance, Inc. based in Houston, Texas, has leased 27,318 square feet at Corporate Center Fannin I in Houston, Texas. The 218,966 square foot warehouse/distribution building was acquired Q3 2019 on behalf of Summit’s Arrowrock Income & Growth Fund III (AIGF III). At the time of acquisition, Fannin I was 87.5% occupied. The new lease brings the building’s occupancy to 100%. Summit’s Corporate Center Fannin II, a ground-up development project immediately adjacent to Fannin I, is currently under construction and includes a Class A, 151,342 square foot multi-tenant warehouse/distribution building scheduled to be delivered Q2 2022.
Sharps Compliance (Nasdaq: SMED) is a leading business-to-business services provider to the healthcare, long-term care, and retail pharmacy markets. Sharps Compliance offers comprehensive solutions for the management of regulated medical waste, hazardous waste, and unused medications. The company chose Fannin I because of its infill location proximate to the Texas Medical Center and Houston’s inner loop (Interstate 610).
In addition to Sharps Compliance, Fannin I’s tenants include Iron Mountain, Ram Tool & Supply, and Shepard Exposition Services.