GRAND PRAIRIE, Texas -- The Fastenal Co. and Dairy Max Inc. have signed long-term leases for One Paddock Place, a recently upgraded office flex property in the Upper Great Southwest Industrial District.
Fastenal will be relocating its Arlington hub in early June to 7,685 sf at 2214 Paddock Way. The new space will include a 3,000-sf showroom to display its leading lines of fasteners, tools and supplies. Dairy Max, now marking its 13th year as a tenant in the building, has inked a 5,920-sf renewal.
Michael W. Spain, executive vice president of Dallas-based Bradford Commercial Real Estate Services, and Jim Ferris, vice president, represent the West Coast-based landlord, Paddock Partnership. Fastenal's tenant representative was C. Matson Pearce of Pearce Commercial and Dairy Max had Michael Stanzel of NAI Robert Lynn as its broker.
Occupancy has climbed to 70% and is destined to rise in the 77,677-sf One Paddock Place, where a parking lot expansion has just been completed to gain 360-degree access to the project and its 10 drive-in loading docks. "The owners bought additional land a few years ago for this expansion," Spain says. "And, we have more land to expand further, if needed."
Developed in 1986 on 4.7 acres, the single-story, brick-and-glass building is located one block from TX 360's service road. Interstate 30 and the George Bush Turnpike also are close by, as is Dallas/Fort Worth International Airport.
"We have a good mix of tenants who were drawn to the location, the image and the quality of space. One Paddock Place has been very well maintained through the years," Spain stresses.
The 21,340 sf of vacancy is now in shell condition. "We are prepared to break this down into four 5,000-sf spaces. That's a size that is few and far between in the Great Southwest right now," Spain says. "We've had a good boost in activity as a result."