A&B Properties Inc.
and Dallas Airmotive Inc
. have signed a long-term lease for the 134,640-sf Heritage Business Park Building V.
Michael W. Spain
, vice president and managing partner of Dallas-based Bradford Commercial Real Estate Services, and Todd Lambeth, senior vice president and managing partner, represented the Honolulu-based landlord in the direct talks with the park's 10-year tenant.
The office/warehouse at 900 Nolen Dr. in Grapevine's Heritage Business Park s
erves as the primary jet repair facility in North America for the tenant's London-based parent, BBA Aviation plc.
"They certainly had other options and considered looking at the market," Spain says. "But, it's a good image park that really represents what they want to project for their company. As long as the economics of the renewal were favorable to what they'd find in the market, then there was probably no reason for them not to renew." The park's proximity to Dallas/Fort Worth International Airport also was a chief consideration in the early renewal decision.
Dallas Airmotive Inc
. was founded in 1932 at Dallas Love Field and bought in 1997 by BBA Aviation. The division services turbine engines used by business and general aviation, government, military, airline and rotor wing operators worldwide.
The 1.3 million-sf Heritage Business Park is 96% leased.
Spain and Lambeth say they have activity on the two vacancies in the park - 30,000 sf
and 20,000 sf.
January 12, 2011