FORT WORTH, TEXAS...
In a testament to Carter Business Center's quality, Rubber & Gasket Co. of America has renewed a 15,545-sf class A industrial lease, allowing the landlord to fully focus on searching for a new tenant to fill the first vacancy in 18 months in the South Fort Worth project.
The Arkansas-based company has signed a renewal for the 39,997-sf Building 2 at 7873 S. Will Rogers Blvd. The upcoming vacancy, 24,419 sf, is located in Building 1, a front-load rear-park distribution center totaling 80,266 sf.
During a quick look at the market, Rubber & Gasket Co. of America immediately spotted the shortage of class A industrial space in the submarket and wasted no time in opening negotiations to renew with Carter Industrial Partners LP. Nick Talley, market director of Dallas-based Bradford Commercial Real Estate Services, represents the landlord.
"There's just no other building in the submarket that can compete with the size and class of Rubber & Gasket Co.'s space. It's the only class A building in the submarket," Talley says. "We were actually able to move the rates up a little bit."
Tyler Baucom of HGC Commercial Real Estate in Fort Worth, represented the Rubber & Gasket Co., one of the original tenants in Carter Business Center. The company houses distribution and sales in the space.
Developed in 2005, Carter Business Center's two buildings are the second newest ones in the 950-acre industrial park, which has Triple Freeport and Foreign Trade Zone exemptions and a strategic positioning at the interchange of Interstates 35W and 20.
Several companies have already toured the upcoming vacancy in Building 1. "It's clean, functional space," Talley says. "It's ready for a deal."
April 5, 2012