104,800-SF Lease Accelerates Park Build-Out Plan

GRAPEVINE, TX-An East Coast postal service contractor, operating under a tight deadline, opens doors this morning on a 104,800-sf facility in the 65-acre Northfield Distribution Center, marking the first tenant for a three-month-old building and a return to the drawing boards by the park’s owner to game out the build-out.

The long-term lease with DDL Post Associates Inc. of McLean, VA, went full cycle in 45 days, with the build-out fast-tracked in 17 days to meet a June 1 key-turning for the mail-sorting operation. Jim Lob, senior vice president in Dallas for Grubb & Ellis Co., tells GlobeSt.com that the 140,160-sf Building 600 at 920 Minters Chapel Rd. in Grapevine near the Dallas/Fort Worth International Airport scored the win for location, 39 dock doors and the owner’s “ability to meet a condensed timeline.”

The class A office/warehouse building, marketed at $4.90 per sf triple net, was up against four others in a fast-paced search of the submarket for a location with a minimum 27 dock doors to handle incoming and outgoing mail. Neither side will say just how aggressive the deal got, but the final contract runs long term with flexibility rights for termination, according to Lob.