Small Business Sector Fuels 97,914 SF
Of Relocations, Expansions
DALLAS As the nation looks to smaller businesses for growth, Dallas/Fort Worth could be viewed as shining example with several regional and local companies in relocation and expansion mode, signing brand-new leases for 97,914 sf of flex industrial and warehouse space.
"Since Labor Day, there has been a marked increase in activity market-wide," says Susan Singer, senior vice president and managing partner of Dallas-based Bradford Commercial Real Estate Services. "From what we are seeing, the activity is being driven by mostly regional and local companies that are relocating and expanding."
The 11-building Marsh Business Park is the beneficiary of three new leases, accounting for 46,791 or nearly 50% of Bradford's latest deal volume. Emultec Inc. and Everrich Industries Inc. have leased 18,675 sf and 9,778 sf, respectively, at 1050 Venture Court in Carrollton. Stryker Orthopaedics, the only international firm in the deal stack, has taken 18,338 sf of flex space at 15160 Marsh Lane in Addison.
Emultec gets its keys Nov. 1 and Everrich moves in Dec. 1. Singer and Jason Miller, one of Bradford's market directors, partner on the Marsh Business Park assignment. The two leases took the 88,500-sf building to 100% occupancy for the landlord, SeaCal Addison LLC. Mark Miller and Chad Albert, both with NAI Robert Lynn, represented Emultec and Everrich, respectively.
New Jersey-based Stryker Orthopaedics is planning a Dec. 1 occupancy at Marsh Business Park. John Roper of CB Richard Ellis was the tenant representative.
In the northeast corridor, Singer and Chris Stout, also a Bradford market director, have completed three leases, totaling 41,598 sf. Two leases landed in Richardson and one in Garland.
Continental Office Group will move in Nov. 15 to 22,374 sf of warehouse space in Gateway East Business Center Building I at 4002 W. Miller Rd. in Garland, owned by Northwestern Mutual Life Insurance Co. The deal had Singer on the landlord's side of the table and Stout negotiating on behalf of the tenant.
In Richardson, Summus Industries Inc. is settling into 11,285 sf in Richardson Business Center at 675 N. Glenville Dr. The Bradford team represented the landlord, TMT Richardson Business Center. On the Texas-based tenant's side was Kurt North of North Pointe
Commercial Realty of Dallas, who also represented Traversa Solutions Inc. in its 6,939-sf lease for the 1400 Distribution Center at 1362 Exchange Dr.
The Singer-Stout team also finalized a lease with Advanced Lighting & Electrical Services Inc. for 9,525 sf of flex space in Twin Creeks Business Center Building 100 at 1303 N. Watters Rd. in Allen. George Tanghongs and Brett Lewis with Lee & Associates DFW represented the tenant, who is planning to move in Nov. 1.
"We're seeing such an improved level of activity that the question is whether it will translate into sustained activity in 2012 or just a rush to get deals done before the end of the year," Singer says.
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