GRAND PRAIRIE, TEXAS...
Taking as-is space for immediate expansion, Moorestown, N.J.-based NW Sign Industries Inc. has given a new lease on life to a long-vacant, 92,500-sf warehouse in the Great Southwest Industrial District.
"It was a very good match of landlord and tenant," says Michael W. Spain, senior vice president and managing partner of Bradford Commercial Real Estate Services in Dallas. "They kind of met each other's desires."
NW Sign Industries has signed a long-term lease for 1170-80 109th St. in Grand Prairie, gaining about 40,000 sf of additional space with the relocation of its manufacturing operation from the Mid-Cities.
Spain and Jim Ferris, Bradford's vice president, were the third listing brokers in four years for the California-based owner, GP 1170 LLC. "We showed it quite a bit, but ultimately the 16-foot clear height always seemed to be an issue," Spain says. "It really took a manufacturing-type use."
NW Sign Industries' requirements included a high parking ratio and heavy power. The vintage warehouse met the needs, as did many other industrial buildings in the Great Southwest.
"They didn't care if it was class A space. They were more interested in functionality and getting a good economic deal," Spain says. "We were very aggressive on the rental rate. That won us the deal, in my opinion."
Lissa E. Cooke of Cooke, Swaney & Cooke represented NW Signs Industries, which has support offices Fort Worth, Chickasha, Okla., and Knoxville, Tenn. In addition to Grand Prairie, it has manufacturing locations in Concord, N.C., Orlando, Fla., and its headquarters city. NW Sign Industries designs, manufactures, installs and maintains premium interior and exterior signage for a diverse portfolio of corporate clients and industries, including commercial real estate.
April 5, 2012