DeSOTO, Texas – The Dallas Morning News has snapped up 13,977 sf of distribution center space in southwest Dallas, quickly signing a long-term lease that keeps the 68,098-sf Falcon Centre fully occupied with no down time between tenants.
The newspaper has moved into as-is space at 1707 Falcon Dr. in Eagle Industrial Park in DeSoto. Brian Pafford and Michael W. Spain, executive vice presidents and managing partners of Dallas-based Bradford Commercial Real Estate Services, represented the landlord, Owen Bros Enterprise. The DMN’s tenant rep was Todd Awe of TAG Realty Management Inc.
“The lease was quickly negotiated because the Dallas Morning News knew there was other activity on that space,” Pafford says. “We had it signed at least one month before the space became available.”
The dealmakers were the end cap’s size, which is a hot commodity in today’s industrial market, and the project’s close proximity to Interstates 20 and 35 and US Hwy. 67. The transaction was completed within weeks of the DMN’s one and only tour.
“Most deals take longer than this one did, but everyone knows there is competition for space,” Pafford says. “If you’re a tenant, you need to act quickly.”
The DMN moved in on the same day that Solar Turbines Inc. vacated one of two spaces in the project. Its second suite, totaling 11,779 sf, will become available later this year.
Falcon Centre has a long history of being fully occupied. It is a front-park design with five tenant spaces featuring 20-foot clear heights, fully sprinklered interiors, dock-high doors and ramps.
“Falcon Centre has been at 100% for years with little tenant turn-over,” Pafford says. “It’s that good of a distribution location.”