ARLINGTON, Texas – Bradford Commercial Real Estate Services has expanded the largest tenant in Arlington's North Commercial Industrial Park and gained a new one for the recently renovated project in South Arlington.
Hightech Grafix Inc., which just moved in seven months ago, has expanded its production facility to 18,000 sf and extended its lease for the long term at 1000 N. Commercial Blvd. New to the project is Isotherm Inc., a nearby manufacturer needing 6,000 sf for storage.
"The leases are a testament to the new owner's extensive renovation. It's now one of the better-looking buildings in that part of the city," says Todd Lambeth, executive vice president of Dallas-based Bradford. He and Cade Navarro, market director, represented the landlord, AKRE Sunwest NCIP LLC.
Jeff Jackson of NAI Robert Lynn represented Hightech Grafix, which gained 6,000 sf with the expansion and lease extension. Tristan Thompson of Matthews Real Estate was Isotherm's tenant representative.
North Commercial Industrial Park is California-based AKRE's first investment in Dallas/Fort Worth, acquiring the 36,000-sf project last November in partnership with locally headquartered Sunwest Real Estate Group. Bradford picked up the leasing assignment shortly before the asset changed hands.
The new owners replaced the roof, updated the truck court, created make-ready suites and cleaned up the building's exterior. Developed in 1980 on 2.55 acres, the project is situated close to Interstate 20, TX 287 and South Cooper Street, one of Arlington's primary thoroughfares.
"It just proves you need to spend money to make money," Lambeth points out.
The Bradford team has secured tenants for two-thirds of the project since taking on the assignment last fall. There are two suites, each 6,000 sf, left to fill in the building.
"The improvements definitely have escalated activity and interest in the project," Navarro says. "For Hightech Grafix, it created confidence in the ownership and made it attractive to stay there long term."