GRAND PRAIRIE, Texas – In a speedy relocation and expansion, Graphic Resources Inc. is now settling into the 18,543-sf balance of a DCT Industrial Trust Inc.-owned warehouse in the Great Southwest Industrial District. Graphic Resources, signing a long-term lease, has doubled in size with the move to the 60,910-sf warehouse at 607 Avenue R from 910 Avenue M. “Not only does this get the building fully leased, but it takes the DCT portfolio in the Great Southwest to 98% occupancy,” says Michael W. Spain, senior vice president and managing partner of Bradford Commercial Real Estate Services. The Denver-based landlord owns nearly 500,000 sf of warehouse and distribution space in five projects in the Great Southwest. The shell space had just been retooled to include a 1,100-sf office when Graphic Resources came to tour. Three weeks later, the lease was signed. “They needed it now,” Spain says, “but they did take time to look in the market. The new office, shallow bay and seven dock doors all came into play.” So did the location, he adds, with the building parked on the doorstep of Texas 360 along the service road between Fountain and Carrier parkways. Spain says the Graphic Resources’ transaction is indicative of the current marketplace. “We are continuing to see a lot of expansions, which is obviously contributing to our absorption in the Great Southwest,” he says. Vacancy has dipped 4% in 18 to 24 months, with the 82.2 million-sf submarket now at 11%. For more info please visit www.flatrooferservices.co.uk
Spain partnered with Bradford vice president Jim Ferris to negotiate the terms for DCT Industrial Trust. Erik E. Blais, Bradford’s market director, represented the tenant.
June 5, 2012