Bradford Commercial Real Estate Services has secured 10 leases and renewals, including two expansions, in the 56,541-sf LaPrada Business Park in northeast Dallas, axing vacancy to 2,000 sf within four months of picking up the assignment from its new owner.
Bradford’s Justin Greenwood and Lee Horn II, both vice presidents, have hiked occupancy to 96.5% from 86.5% with the whirlwind round of leasing at 15330 Lyndon B. Johnson Freeway/Interstate 635 in Mesquite. The 10 market-rate transactions total 11,200 sf or nearly 20% of the four-building industrial flex project.
LaPrada Business Park, geared toward small to medium-size users, abuts the access road of I-635 and is close to the freeway’s ingress/egress ramps. A locally based investment group, Bleecker Partners, purchased the 8.6-acre asset in December and immediately retained Bradford to lease it.
“The new owner has put a significant amount of capital into the project to attract new tenants and encourage retention,” Greenwood says. “The construction crew has worked tirelessly on nights and weekends on the renovation and getting spaces ready.”
White Rock Air Conditioning & Heating re-upped 2,000 sf as did Global Threads LLC, which doubled in size with an early renewal. Also renewing were Sweet Jones Upholstery, 1,200 sf; A-team Renovations, 1,000 sf, which added 200 sf; and Robert & Sons AC & Heating, 1,000 sf.
LaPrada’s new tenants, each leasing 1,000 sf, are Dolphin Innovative Solutions Inc., Serenity’s The Art of Plumbing, Launch Golf Bay and OmniEdge Green & Clean. Also joining the project is Estera Matras Photography, which leased 816 sf.
The Bradford team has used tried-and-true sourcing strategies and direct negotiations to secure the majority of the leases. Launch Golf Bay, set to occupy in early May, was represented by Tanja McAleavy of Younger Partners.
“We were approached about leasing LaPrada because the ownership was so impressed with Bradford’s leasing strategies at Northway Plaza, which it also owns,” Greenwood says. “That project’s occupancy jumped to 98.8% from 73.2% in less than five months.”
The updated LaPrada Business Park now boasts newly painted buildings inside and out, a re-striped parking lot, landscaping improvements, new lighting and make-ready spaces that were quickly leased. The average suite, featuring grade-level loading, is 1,000 sf.
“LaPrada’s owner specializes in creating relationships from the beginning so tenants want to stay when it’s time to renew,” Greenwood says.
