FORT WORTH With industrial vacancy near an all-time low in south Fort Worth, Multi-Shot LLC has renewed 30,348 sf in Carter Business Center, the only class A shallow-bay warehouse project in its submarket.
Nick Talley, vice president of Dallas-based Bradford Commercial Real Estate Services, represented the landlord, TA Realty Associates Fund X LP, in the direct deal. The two-building, 120,728-sf project at 7821 Will Rogers Blvd. remains fully leased.
"The submarket's vacancy of less than 5% was clearly a factor in this renewal and others. There are no other options for this quality of space," Talley says. "Demand for industrial space in the submarket continues to stay strong and could force new development in the near future."
Multi-Shot, a Houston-based oil and gas firm, holds the distinction of being the first tenant in Carter Business Center, which was developed in 2005 in the 950-acre Carter Business Park. The development is near the intersection of Will Rogers and Everman parkways, close to Interstates 30, 20 and 35W.
"This has been a good project. We could use more quality space like this in the submarket," Talley says.
Fort Worth has more than 243.1 million sf of industrial product, of which 71.9 million sf is located in the southern sector. The average industrial vacancy is 5.2% for all Fort Worth submarkets, according to industry experts.
April 18, 2016