Looking to stay in the DFW Airport submarket, Specialized Products Co. has signed a 94,993-sf, full-building lease in Heritage Business Park after evaluating options and then opting to renew.
“We were able to provide them with an option that gave them an attractive rental rate and tenant-improvement package that allowed them to reconfigure the space,” says Michael W. Spain, senior vice president and managing partner of Dallas-based Bradford Commercial Real Estate Services. “Our biggest hurdle was the configuration of space, which met the company’s needs five years ago, but didn’t meet its current needs.”
Specialized Products Co. has occupied Heritage Business Park Building 1 at 1100 Kimball Ave. since it delivered in 1997, the only one constructed to date with a Southlake address. Reggie Beavan of Jackson & Cooksey represented the tenant.
Hawaii-based A&B Properties Inc. has no available space in the 1.3 million-sf park, but it does have 24 acres of development land abutting Specialized Products’ building. The seven-building park, straddling Grapevine and Southlake, is close to all major freeways in the region and just five miles from Dallas/Fort Worth International Airport.
“Due to the demand and space requests that we’ve had, we’re exploring developments opportunities on the land,” Spain says.
April 12, 2012