GRAND PRAIRIE, Texas – Northern California's largest local solar company, V3 Electric Inc., has set up shop in the Upper Great Southwest Industrial District, kickstarting its vision to significantly increase its market share of the energy industry.
The Texas newcomer has leased 10,130 sf in Trinity West Business Park Building A, 2550 114th St. in Grand Prairie. The fast-moving new deal has restored the 140,798-sf, two-building project to 100% occupancy with just a few months' downtime.
"We've always had a healthy occupancy rate in this project. When we do get a vacancy, it is backfilled quickly," says Michael W. Spain, executive vice president and managing partner of Dallas-based Bradford Commercial Real Estate Services. He and Jim Ferris, vice president, represent the landlord, William J. Owen Trust & CMO Investment Co.
V3 Electric has signed a long-term lease for its new Texas home. Brooke Ford of SVN Trinity Advisors/Matthew Group represented the tenant.
"We were waiting for the right deal to come along. We'd had good activity and multiple proposals," Spain says. "V3 shot to the top of the list because it wanted fewer tenant improvements and offered a quicker commencement date."
Trinity West Business Park's popularity is two-fold: location and industrial flex suites ranging from 4,000 sf to 10,130 sf. Location-wise, Interstate 30 and TX 360 and 161 are easily accessible.
"Trinity West is good class B product in a good location," Spain says, "but it's also important to note that projects with spaces this size aren't being built these days. Demand is at an all-time high."
V3 Electric is Trinity West's largest tenant. Its new base of operations features 3,300 sf of office space and 6,830 sf of warehouse area. Design amenities include 18-foot clear height, rear-load with a grade-level door and double-row front parking.
Founded in 2014, V3 Electric offers traditional solar panels in optional packages and is a Tesla Powerwall certified installer. The combination of solar and Powerwall provides a continuous power source during outages. V3's services include solar and battery backup installation, monitoring and maintenance for customers.
"We had an executed lease within 45 days," Spain says. "The company wanted to move in a week after touring the space so that was the motivation to quickly negotiate a deal."