The company's hub will undergo an extensive interior renovation to accommodate the change in its national distribution strategy. Curtis Kouba, executive vice president and managing director of Bradford Management Co. Inc. will oversee upgrades to Network Wireless' facility at 2040 McKenzie Dr. in Carrollton.
"The office pod will be brought up to 21st century standards. It will have more of a corporate feel to go along with the decision to make Dallas the head distribution point in the country," says Joe Santaularia, senior vice president and managing partner of Dallas-based Bradford Commercial Real Estate Services. He represented the tenant in the renewal talks.
Network Wireless Solutions' shift in distribution to Dallas from Durham comes after just five years in North Texas. The company supplies equipment and support for the wireless telecommunications industry, including next-day deliveries, a service that can be more cost-effective and time-efficient from Dallas due to its central U.S. positioning.
The class B office/warehouse project offers easy access to Interstates 35 E and 635, the President George Bush Turnpike and two airports. The shallow-bay design features 13 docks and a secured truck court. The landlord, BREIT Industrial Canyon TX1M15LLC, was represented by Sara Ozanne and Mac Hall of Stream Realty Partners DFW LP.
It's been a brisk market for renewals in the industrial and flex categories for several months, with Bradford closing three or more on a weekly basis. Santaularia credits that trend to the normalization of the industrial market after several years of leasing disruption and record-low vacancies, particularly for tenants needing 200,000 sf or less.
"We were able to get in front of the market with this renewal. It took time to negotiate," Santaularia says, "but we got favorable economics compared to tenants who are facing steep increases in rental rates for industrial space because of current market conditions."