DALLAS – Bradford Commercial Real Estate Services has pushed a four-building industrial portfolio in north Dallas to 100% occupancy, signing 24,261 sf in two new leases and one renewal.
Midpoint Auto Group has leased 13,119 sf at 3300 Garden Brook Dr. while JKMG & International Co. Inc., dba Noroo, has taken 4,472 sf at 3314 Garden Brook Dr., filling the balance of the portfolio's vacancy. In a long-term renewal, United Fine Arts Services LLC has held fast to 6,670 sf in 3109 Garden Brook Dr.
Brian Pafford, executive vice president and managing partner of Bradford, and Susan Singer, executive vice president, closed the triple play for the landlord, Gardenbrook Industrial LLC, shortly before the portfolio changed hands.
"These three deals certainly helped in the sale process," Pafford says, "as did our ability to add to the portfolio's value by raising the bar on future rates for renewals and new leases."
The Bradford team was facing a six-month deadline to fill the 13,119-sf vacancy with another automotive group or face the loss of the permitted use. "We got the deal done in the nick of time," Pafford stresses.
Pafford and Singer negotiated direct deals with Midpoint Auto Group and United Fine Arts Services. Daniel Lee of Stellar Real Estate LLC represented Noroo, which is opening its first location in Texas.
The portfolio also includes a single-tenant building at 3113 Garden Brook Dr. and a multi-tenant structure at 4101 Lindbergh Dr. The shallow-bay warehouses are geared toward smaller tenants with spaces from 5,000 sf to 20,000 sf.
"There continues to be strong demand for spaces in that size range," Pafford says.