Pitney Bowes Adds 49,985 SF
In the Great Southwest
GRAND PRAIRIE, Texas Completing the deal in just three days, Pitney Bowes Presort Services has more than doubled its size in the Great Southwest Industrial Park.
Pitney Bowes picked up 49,985 sf of move-in ready space in Post & Paddock IV at 2700 112th St., getting a spot close to its existing 40,000-sf warehouse operation in Grand Prairie. "We turned that deal around in three days, start to finish," says Michael W. Spain, senior vice president and managing partner of Bradford Commercial Real Estate Services.
Spain and Jim Ferris, vice president of Dallas-based Bradford, represented the landlord, MP Post & Paddock LP. Dan Cook and Martin Becker of Cushman & Wakefield of Texas Inc. represented Pitney Bowes, which took the last available space in the 219,614-sf warehouse, one of five buildings, totaling 634,653 sf, owned by MP Post & Paddock in the Great Southwest.
Pitney Bowes' expansion drove occupancy to 92 percent, slicing the project's vacancy to just 50,000 sf. And that too, Spain says, is close to landing a tenant.
"Post & Paddock stays pretty well leased because it's a good location on the north end of the Great Southwest," Spain says, citing the project's historically high occupancy since its delivery in the late 1980s.
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