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Aerospace supply chain firm plans Northlake warehouse
Wesco Aircraft Holdings Inc. has leased 309,357 square feet in Northlake for a new industrial warehouse. Securing the property was E Smith Realty Partners, a Dallas-based commercial real estate services firm led by former Dallas Cowboys player Emmitt Smith.
Wesco Aircraft, based in Valencia, California, provides comprehensive supply chain management services for the global aerospace industry.
The new industrial warehouse is expected to support Wesco’s continued growth, with a projected completion date in the third quarter of 2016.
“The Northlake facility is a strategic, multi-commodity site that will allow us to gain further efficiency in our operations and meet our need for increased distribution capacity as we continue to grow our business,” said Alex Murray, chief operations officer, in a news release.
Brad Struck and Jim Hazard of E Smith Realty represented the tenant in lease negotiations,
“We are privileged to work with Wesco Aircraft, the town of Northlake and Denton County to secure this warehouse space in North Texas,” said Struck, president of industrial services for E Smith Realty Partners.
More information about Wesco Aircraft Holdings Inc. is available at https://www.wescoair.com/ENG/Pages/Home.aspx
TEXAS HOME SALES UP,
INVENTORY DOWN IN Q1
Texas home sales rose significantly in the first quarter of 2016, while housing inventory fell to an all-time low, according to the 2016-Q1 Texas Quarterly Housing Report released May 11 by the Texas Association of Realtors.
“Despite the economic downturn in some parts of the state, home sales continue to be strong, indicating the enduring demand of Texas real estate,” said Leslie Rouda Smith, chairman of the Realtors group. “Our state continues to be a hub for relocation activity, business development and job growth.”
According to the report, 65,265 homes were sold in Texas in the first quarter of 2016, a 7.8 percent increase from the same quarter of 2015. Home prices continued to rise as well, with the median price increasing 5.4 percent year-over-year to $195,000.
Jim Gaines, economist with the Real Estate Center at Texas A&M University, added, “The Texas economy is experiencing a cooling-off period after a five-year boom, so the Texas housing market’s strong gains despite the current uneasiness in the state economy are remarkable. It will be interesting to see how Texas real estate activity performs in the next two quarters, typically the strongest quarters for home sales every year. That performance will show the full strength of the Texas housing market in 2016.”
Housing inventory fell to an all-time low of 2.8 months in the first quarter of 2016, a decline of 0.6 months from the first quarter of 2015. The Real Estate Center estimates that a monthly housing inventory between 6 and 6.5 months is a level at which the supply and demand for houses are balanced. Active listings also fell sharply in the first quarter, dropping 11.9 percent year-over-year to 74,276 active listings. Texas homes also continued to spend less time on the market. In the first quarter, they were on the market an average of 64 days, three days less than the same quarter last year.
See more at: www.texasrealestate.com
LEASES
Liberty Burger has leased 2,400 square feet at 8917 North Freeway in Fort Worth. Guy Grivas and Marc Marrocco of MG Retail Partners represented the landlord.
AT&T has leased 2,113 square feet at 8917 North Freeway in Fort Worth. Guy Grivas and Marc Marrocco of MG Retail Partners represented the landlord.
Game Over has leased 2,089 square feet at Hulen Fashion Center, 5200-5288 S. Hulen St. in Fort Worth. Easley Waggoner and Amanda Throckmorton of Venture Commercial-DFW represented the landlord.
Mi Clinica Familiar has leased 1,972 square feet at Town & Country Center, 2420-2534 Jacksboro Highway in Fort Worth. Jeff Marek and Roger Smeltzer of Vision Commercial Real Estate represented the landlord.
Westermann Bolt and Gasket Co. has leased 33,000 square feet at Haltom Place Business Park, 6320 Airport Freeway in Fort Worth. Leland Prowse of Transwestern-Fort Worth represented the landlord.
Triwanna Wickoff M.D. has leased 4,500 square feet at Hawkins View Building, 7201 Hawkins View Drive in Fort Worth. William Tinsley of Ellis & Tinsley represented the landlord.
Primacore Services Inc. has leased 1,440 square feet at 1630 Lamar Blvd., Suite 124 in Arlington. John Casburn and Chris L. Stewart of Vasseur Commercial Real Estate Inc. represented the landlord, Choice ATM Inc.
Arrow Electronics has leased 74,739 square feet at 1401-1501 Nolan Ryan Expressway in Arlington. John Brewer of Transwestern-Fort Worth represented the landlord.
PM&J has leased 50,237 square feet at First Arlington Commerce Center at Interstate 20, 3996 Scientific Drive in Arlington. Kacy Jones and Steve Koldyke of CBRE-Dallas represented the landlord.
Main Street Renewal LLC has leased 3,161 square feet at Arlington Downs Tower, 2225 E. Randol Mill Road in Arlington. Erik Blais and Richmond Collinsworth of Bradford Commercial Real Estate Services-Fort Worth represented the landlord.
Go Strapped Firearms Training has leased 1,913 square feet at Northlake Centre, 3201-3349 W. Pioneer Parkway in Pantego. Cameron Haddad of NAI Robert Lynn-retail division represented the landlord.
Rock Solid Funding LLC has leased 1,826 square feet at 1706 Tennison Parkway in Colleyville. Erik Blais of Bradford Commercial Real Estate Services-Fort Worth represented the landlord.
Dart Warehouse has leased 136,702 square feet at Regency 1, 1025 Post & Paddock Road in Grand Prairie. Kacy Jones and Steve Koldyke of CBRE-Dallas represented the landlord.
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