Cushman & Wakefield of Texas, in its Q3 industrial analysis, put vacancy and net absorption well behind the numbers of a year ago so the combined 128,500 sf of newly cut deals are a welcome sign. Net absorption, said the research team, was trailing by a million sf while 12.8% overall vacancy reflected practically a three-point climb.
The lead deal on the renewal side is 44,712 sf at 109th Street in the Arlington section of the Great Southwest Industrial Park. A&A Box Co. re-upped for five years to hold onto the keys to a building owned by Greenbriar Holdings of Dallas. Dan Lawson of Proterra Properties Inc. in Dallas single-handedly brokered the renewal with the 10-year tenant.
Proterra also took the lead spot in the stack of direct leases, signing Sears Home Improvements to 14,377 sf at 2930 Skyway Circle in Las Colinas. The tenant is relocating from 8,200 sf within the four-building Quad Center development, another Greenbriar Holdings property. Lawson tells GlobeSt.com that the deal for the five-year tenant carries a five-year term.
On the renewal side of the deal making, KAVCO Industries Inc. is staying put in 33,000 sf at 7605 Pebble Dr. in a pact brokered by Jeff Givens, senior director for NAI Stoneleigh Huff Brous McDowell, who represents the building owner, Riverbend Properties. The five-year renewal went to a tenant who's been in the Riverbend Business Center for the last 18 years, he tells GlobeSt.com. The renewal kept the 100,000-sf building filled to the brim.
Modern Plastics renewed for 12,785 sf at 1726 W. Crosby Rd. in Carrollton, a RREEF property in the Valwood Industrial Park. The deal was structured between Joe Doye of Grubb & Ellis Co.'s Dallas office and Bryan Marsh, also of Dallas.
In two direct deals, Bradford Cos. of Dallas signed 22,000 sf for Westport Business Center in Grapevine. Cutler-Hammer, a manufacturer of electrical distribution and control products, took 12,230 sf at 637 Westport Parkway for an engineering office and tech facility. Espree Animal Products signed for 9,812 sf in the same building.
Bradford's Shane Clark, senior vice president, negotiated on behalf of the building owner. Eric Ramer of Icon Commercial in Atlanta spoke for Cutler-Hammer while Dan Cook of Cushman & Wakefield of Texas Inc. negotiated for Espree.
First Industrial's Mark Aller got a signature for 12,662 sf with Pantheon Floor Solutions Inc. in a deal negotiated with Kenon Perry of Insignia/ESG and Matt Smith of CB Richard Ellis Inc.
Grubb & Ellis' Rick Tiller signed Beazer Homes to a 7,056-sf industrial flex spot in Addison Park Place at 4500 Beltway Dr. in Addison. He represented the tenant and Mark Tharp of Harkinson Investment Corp. spoke for the building owner.
A 3,900-sf direct lease puts TST Catastrophe into 2528 Farrington Rd., owned by the Lawson Co. of Dallas. Mart Martindale of Grubb & Ellis worked out the terms.
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