Minnesota-based Fastenal Co. will keep its North Texas fulfillment center firmly rooted in One Paddock Place in the Upper Great Southwest Industrial District.
The wholesale distributor has signed an early renewal for 7,685 sf in the 71,677-sf industrial flex project at 2214 Paddock Way in Grand Prairie. Jim Ferris, vice president of Dallas-based Bradford Commercial Real Estate Services, and Michael W. Spain, executive vice president and managing partner, represented the landlord, Paddock Partnership.
“Fastenal did a cursory search of the market, but there virtually is no functional space in the Upper Great Southwest in its size range,” Ferris says.
C. Matson Pearce of Pearce Commercial Property Co. represented Fastenal, a distributor of industrial and construction supplies. The appointment-only fulfillment center in One Paddock Place is situated less than one block from TX 360, offering easy access to TX 161/Bush Turnpike and Interstate 30.
One Paddock Place has retained 95.9% occupancy with the signing. Its 4,362 sf of available space is being built out as spec space.
“Occupancy is the driver for the landlord,” Ferris says. “We made an offer at a price that Fastenal couldn’t refuse.”
As Ferris points out, present-day market conditions favor renewals for tenants with existing spaces that work. “When the market is under 5% vacancy, most renewals are by necessity,” he adds.
NORTH TEXAS LEASES
Fastenal Co. has renewed 7,685 sf of flex space in One Paddock Place, 2214 Paddock Way, Grand Prairie. Michael W. Spain, executive vice president and managing partner of Bradford Commercial Real Estate Services, and Jim Ferris, vice president, represented the landlord, Paddock Partnership. C. Matson Pearce of Pearce Commercial Property Co. represented the tenant.
Boomtown Team Group & Corporate Apparel LLC has renewed 6,190 sf of flex space in Northgate Business Park 1, Building 11, 11431 Plano Rd., Dallas. Jason Finch, first vice president of Bradford Commercial Real Estate Services represented the landlord, Northgate Business Park LLC, in the direct deal.
DFW Granite Inc. has leased 4,000 sf of warehouse space in Bickham Industrial Park, 10230 Bickham Rd., Dallas, from Bickham EPA LLC. Jason Finch, first vice president of Bradford Commercial Real Estate Services, and Michael W. Spain, executive vice president and managing partner, represented the landlord in the direct deal.
United Recycling & Waste Disposal has renewed 393 sf of office space in Park Forest Office, 3530 Forest Lane, Dallas. Kyle Espie, senior associate of Bradford Commercial Real Estate Services, represented the landlord in the direct deal.
Bradford Commercial Real Estate Services/CORFAC International is a full-service real estate company based in Dallas with an annual transactions volume exceeding five million square feet. The company manages and leases more than 20 million square feet, valued at $300 million, in North Texas for its strategic partners.
