DALLAS – Within three months of getting the assignment, Bradford Commercial Real Estate Services has secured three renewals and four new leases for Kennington Commercial's18-property portfolio in northwest Dallas.
Susan Singer, executive vice president of Dallas-based Bradford, and Brian Pafford, senior vice president and managing partner, are leasing the properties for Kennington Commercial. The portfolio of 18 flex properties, totaling 857,626 sf, is situated in Addison, Carrollton and Farmers Branch.
"There is a good range of sizes for small to medium-size tenants," Singer says. "Demand for the smaller spaces has been particularly strong." The new stack of long-term leases totals 36,968 sf at five properties in Addison and two in Farmers Branch.
The Addison transactions are:
▪ Ship It AOG LLC has renewed 14,000 sf at 4309 Lindbergh Dr. in direct talks with Singer and Pafford.
▪ Savage Brothers Inc. has leased 7,000 sf at 4303 Lindbergh Dr. The tenant representative was Eric Crutchfield of Stream Realty Partners.
▪ Legion Consulting II has renewed 4,355 sf at 4260-64 Kellway Circle. The tenant representative was Sally Zaharovitz of Keller Williams Frisco.
▪ Audiometric Services In. has renewed 3,361 sf at 4950 Keller Springs Rd. The tenant representative was Christopher Fleeger of Morrow Hill.
▪ Amphenol Custom Cable Inc. has leased 1,604 sf, also at 4950 Keller Springs Rd. The tenant representative was Jason Finch, a Bradford associate.
The Farmers Branch transactions are Alpha Lock Security and Allied BioScience Inc., which have leased 3,654 sf and 2,994 sf, respectively, at 4350 Alpha Rd. The Bradford leasing team negotiated directly with the larger tenant. Daniel Rudd and John Peloza of Colliers International represented Allied BioScience.
"Kennington has a large portfolio that's able to accommodate tenant growth and they're happy to do that, which was the case with Alpha Lock Security," Singer says. "This owner is always focused on tenant retention so many have been there long term."
Alpha Lock Security has expanded with its relocation to a three-building business center at 4300 and 4350 Alpha Rd. Kennington's latest acquisition is now being extensively renovated. Upgrades to the 40,049-sf asset include building exteriors, landscaping, monuments and tenant signs.
"We've been busy in these first few months with completing renewals and securing new tenants. We are looking forward to 2019 to lease the remaining vacant spaces," Singer says. The portfolio has openings from 1,300 sf to 25,000 sf for tenants seeking flex suites in the northwest Dallas submarket.
"Kennington offers stability to tenants. It rarely ever sells a property," Singer adds. "Its focus is getting and keeping tenants long-term."
Dallas-based Kennington Commercial is a privately owned commercial real estate investment and development group with more than 1.3 million sf of industrial, office flex and retail properties in North Texas. Tenants range from locally owned sole proprietorships to Fortune 100 multinational corporations.
December 7, 2018