DALLAS Three weeks after negotiations began, Bradford Commercial Real Estate Services had a tenant in hand for the only remaining space in NFTZ Business Park, a 62,221-sf distribution center on airport-supported land in the heart of Dallas/Fort Worth.
The 21,000-sf balance at 1323 W. Royal Lane, Irving, has been leased to DMJ Real Estate LLC, a holding company for a local pharmaceutical company.
"It was a quick-moving deal that took occupancy to 100% and stabilized the property for the long term," says Joe Santaularia, vice president of Dallas-based Bradford. He and Brock Wilson, senior vice president and managing partner, represented the landlord, PS Business Parks LP.
The dealmaker was the immediate availability of distribution space requiring minimal tenant improvements for the new tenant's storage needs. Location also was a key factor. NFTZ Business Park is strategically positioned between Interstate 635 and TX 114 on rail-served land in the northern quadrant of Dallas/Fort Worth International Airport. Sammy Abuhamra of the Mercer Co. represented DMJ Real Estate.
December 8, 2014