DALLAS – Making a long-term commitment, Volvo Construction Equipment & Services has signed an early renewal for a 20,640-sf showroom/warehouse facility in the Great Southwest Industrial District. Michael W. Spain, senior vice president and managing partner of Dallas-based Bradford Commercial Real Estate Services, and Kevin J. Santaularia, president and CEO, negotiated directly with Volvo’s real estate department on behalf of the California-based landlord, Milan East Park Row LP. Volvo Construction Equipment has re-upped at 3401 E. Park Row in Arlington, foregoing a market search for new space and renewing about five months early. “The building works for them. The location works for them,” Spain says. Key to the decision to stay is a six-acre concrete and fenced site, providing a much-needed secure yard for equipment storage. “There are only a handful of buildings like this in Dallas/Fort Worth,” Spain points out. The new lease includes a tenant-improvement package to upgrade the 3,000-sf showroom. About 30% of the single-story structure is office and showroom space while the balance is used to warehouse parts and repair equipment. The Great Southwest location is one of two showroom and repair hubs in Texas for Volvo Construction Equipment & Services. The lease reflects the gradually improving marketplace. “Being a long-term lease, rental increases go hand in hand with what we expect to be a recovering economy,” Spain says.
July 2, 2012