FORT WORTH – New Haven Companies Inc. is settling into 24,837 sf after jumping on a class A vacancy in North Fort Worth to set up its immediate exit from the DFW Airport submarket for newer and more cost-efficient space.
The Connecticut-based company has scooped up a spot in Parc North Building 3 at 2751 Northern Cross Blvd. Luke Clardy, senior broker in the Fort Worth office of Dallas-based Bradford Commercial Real Estate Services, represented the tenant, a CORFAC referral from Henry Landwermeyer and David Boyd of Boyd Commercial in Houston.
“New Haven has relocated from the airport submarket’s highly competitive rate environment to Fort Worth, which previously had not been considered,” Clardy says. “The company found newer space, a lower rate and a landlord who can accommodate future expansions.”
EastGroup Properties’ Parc North, completed in 2023, is a 642,000-sf, six-building industrial park situated close to Interstate 35W and Loop 820, gateways for north, east, south and west transport. At the time New Haven was searching, the landlord was reconfiguring half of the 150,000-sf Building 3 to accommodate four tenants instead of three.
“It was perfect timing,” Clardy says. “New Haven had a limited time frame for moving. The parties agreed to terms two days after the tour. The lease was signed shortly afterward.”
The 114-year-old New Haven specializes in sales and distribution of high-quality moving components and equipment. It operates 19 regional hubs in the U.S., three of which are located in Texas.
According to Q1 market reports, North Fort Worth’s overall averaged weighted lease rate is $7.42 per sf. In comparison, the DFW Airport submarket’s average is $10.57 per sf.
New Haven’s new DFW location is second-generation space with a 28-foot clear height for higher racking in a more modernized footprint than it previously occupied. Brett Carlton and Forrest Cook of Stream Realty Partners leases Parc North for EastGroup Properties, a publicly traded real estate investment trust headquartered in Jackson, Miss.
