GRAND PRAIRIE, Texas – With small to mid-size industrial spaces at a premium, recent leasing activity has pushed occupancy to 100% at several properties in the Upper Great Southwest Industrial District.
In Bradford Commercial Real Estate Services' recent round of leases, move-ins have been completed or soon will be at Woodlands Business Center, 2009 108th
St., 1209 E. Avenue J and 605 Avenue R, all in Grand Prairie, and 3214 Dalworth St. in Arlington.
▪ Power Pro-Tech has snapped up the 7,868-sf balance of the three-building, 91,854- sf Woodlands Business Center. Michael W. Spain, Brock Wilson and Joe Santaularia of Bradford represented the landlord, SL4 DFW Industrial LP. Clint Manning, also with Bradford, was the tenant representative.
Petroleum Solutions Inc. has leased the 10,000-sf balance of the two-building, 90,000-sf project at 1209 E. Avenue J. Bradford's Spain and Manning represented the landlord, 1201 East Avenue J LLC. Patrick Embry of NAI Robert Lynn was the tenant representative.
▪ Regal Corp.'s 18,687-sf renewal has kept the 60,000-sf Avenue R building at capacity. Bradford's Jim Ferris and Spain represented the landlord, DCT-TX 2004 RN Portfolio I LP. Michael Stanzel of NAI Robert Lynn was the tenant representative.
▪ Peloton Cycle has leased 10,000 sf in the Dalworth Street property. Susan Singer of Bradford represented the tenant. Landlord Vivian Jones Management Trust's 53,110-sf building is handled by Corby Hodgkiss of the Mercer Co.
"When vacancies occur in this size range, they don't stay vacant for long. And, we always have multiple offers," says Spain, executive vice president and managing partner of Dallas-based Bradford.
According to new Great Southwest market reports, the vacancy rate is 6.6% for industrial flex and 4.7% for shallow-bay spaces. Industrial vacancies of less than 20,000 sf most often are snapped up within 30 to 45 days of coming on the market. One of Spain's landlords right now has three proposals in hand for an 11,000-sf space.
"This is indicative of current conditions in the Great Southwest," Spain says. "It reflects how tight the market really is for industrial flex and shallow-bay product."
November 10, 2017