Bradford Commercial Real Estate Services has reeled in 60,000 sf in new deals and renewals for a Florida-based landlord who assembled two industrial parks, totaling 26 buildings, in a series of acquisitions from multiple owners in southeast Fort Worth.
The Bradford team of Richard Hitz, vice president, and Jason Finch, senior vice president, are spearheading the re-branding and repositioning of 620,000 sf, now dubbed Ludelle and Blue Smoke industrial parks. Owned by Basis Industrial, the side-by-side projects are undergoing a significant upgrade inside and out to create market-rate space on infill land close to downtown Fort Worth.
“The renovation that’s been done to date has resulted in quite a bit of new leases and renewals. And the construction is ongoing,” Hitz says.
The largest deal in the stack was signed by OFCO Inc. – 18,000 sf, a full-building lease at 2631-39 Ludelle Industrial Park. The office furniture supplier, re-upping for the long-term, was represented by Jeff Jackson of NAI Robert Lynn.
The Bradford team’s direct negotiations have produced long-term renewals from:
▪ Fresnel Technologies Inc., 7,200 sf at 2747-2749 Ludelle St.;
▪ Val Pearson, 7,200 sf at 2663 Ludelle St.;
▪ Construction Resins Corp., 3,600 sf at 2748 Ludelle St.;
▪ DF Drywall, 3,600 sf at 2657 Ludelle St.;
▪ Advantage Industries, 3,600 sf at 2653 Ludelle St.;
▪ Feast Texas LLC, 2,400 sf at 2327 Blue Smoke Court.
Ludelle Industrial Park is getting four new tenants, three of whom negotiated directly with Bradford. The newcomers are:
▪ The Goody Getting Place, 7,200 sf at 2601 Ludelle St.;
▪ Caribbean Bay Hotel, 3,600 sf at 2605 Ludelle St., with Malek Massad of Sky Bridge
Real Estate serving as tenant representative;
▪ Voda Cleaning & Restoration, 1,800 sf at 2416 Ludelle St.;
▪ TAGIT, 1,800 sf at 2412 Ludelle St.
“There are another 10 renewals under negotiation. We are getting two to three inquiries per day about availability,” Hitz says.
Both parks are situated within eight minutes of the central business district and a stone’s throw from Interstate 30 and TX 287. The landlord’s affiliated company, Bay Space, is staffing an on-site property management office.
“Basis Industrial has made a significant financial investment to convert vintage space to market rate,” Hitz says. “On-site management is a rarity for industrial buildings in this age category. This landlord is proactive.”
Upgrades to date include parking lots, LED lighting, enhanced security and re-painting building exteriors. Move-in ready spaces were created in both parks, which feature grade-
level and dock-high loading and a host of highly desirable industrial amenities, including sprinkler systems in select suites. Plans are underway for the next renovation phase.
“The improvements are being made in phases because of the size of the two industrial parks,” Hitz says. “The new leases and renewals are a good sign that our repositioning and re-tenanting strategies are working.”
