California Firm Signs Largest Lease
This Year at Heritage Business Park
GRAPEVINE, Texas California-based Printograph Inc. has leased 110,091 sf in Heritage Business Park Building III to open its third GotPrint.com production facility in the U.S. The metroplex's newest company is planning to fire up its presses Feb. 1.
The Bradford Commercial Real Estate Services' team of Michael W. Spain, vice president and managing partner, and Todd Lambeth, senior vice president and managing partner, reeled in the deal for A&B Properties Inc., owner of a now 96 percent-leased, 1.3 million-sf suburban business park. Steve Koldyke of CB Richard Ellis represented Printograph, which signed the largest lease to date this year in Heritage Business Park.
The landlord had just reconfigured the office-to-warehouse ratio for the remaining space in the 352,000-sf office/warehouse at 1001 Nolen Dr. when the Printograph deal moved into the market. Heritage Business Park Building III made the final cut in a search that stretched from the northern fringe of the D/FW Airport submarket to the southern edge of the Great Southwest Industrial District. Making the short list, Spain says, was due to the building's existing heavy power, location and curb appeal.
"Printograph was focused on buildings that could deliver image and existing power," Spain says. "And, they were looking for a market-rate deal and we were able to deliver that."
Printograph operates GotPrint.com facilities in Burbank, Calif., and Greater Cincinnati/Northern Kentucky. A production facility also is planned for The Netherlands.
Dallas-based Bradford is celebrating an occupancy milestone with the long-term signing. The brokerage firm took over the seven-building complex in November 2008, with occupancy dipping to 84 percent within months of being awarded the leasing assignment.
Printograph's space was "vacant well before our watch," Spain says, noting it was previously used by CompUSA as a call center.
Click here for PDF
|
