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Real Estate Real Deals: Investors buy Las Colinas distribution center

Real Deals: Investors buy Las Colinas distribution center

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

Gretzinger Investment Group LLC, a first-time buyer in North Texas, has scooped up the fully occupied, two-building Las Colinas Distribution Center in an off-market transaction. Bradford Commercial Real Estate Services, which has leased and managed the project for the past decade, will remain in place.

Las Colinas Distribution Centers 4 and 5, totaling 103,054 square feet, are situated on a six-acre corner tract abutting the northern boundary of Dallas Fort Worth International Airport. The structures are located at 3242-3250 N. Skyway Circle and 3241-3251 W. Story Road in Irving’s Las Colinas submarket.

“Las Colinas continues to be a highly sought after location because of its image and positioning in Dallas/Fort Worth,” said Brian Pafford, senior vice president and managing partner of Dallas-based Bradford. “This is highly functional space that’s well-located within the Metroplex.”

The L-shaped property, once institutionally owned, consists of a 22,154-square-foot, air-conditioned office flex design fronting Skyway Circle and an 80,900-square-foot warehouse facing Story Road. The new owner will soon begin exterior improvements to enhance the curb appeal of the 1980s-era buildings, which house five tenants apiece. The roster includes JMP Engineering, The Beckett Corp., Spectrum Transportation Services LLC, PCI Logistics, BioAutomation Corp. and Plastronics Socket Partners Ltd. Pafford and Jason Miller, a vice president with Bradford, lease the project.

Pafford represented the seller, a family trust from North Texas.

Hahn Franklin-Mitchell of Younger Partners in Dallas handled negotiations for Austin-based Gretzinger, a commercial real estate firm focused on flex and industrial investment properties in the United States. It owns 10 industrial and retail properties in Texas. Gretzinger’s acquisitions manager is John D. Nielsen.

LEASES

Eco Lab has leased 192,350 square feet at Riverbend West Distribution Center, 2101 Reeves Place in Fort Worth. Donnie Rohde, Chance Olin and George Jennings of Holt Lunsford–Dallas represented the landlord.

Ox Paperboard has leased 103,889 square feet at 4300 Diplomacy Road in Fort Worth. Michael Peinado, Tom Kuhlmann and Gil Stroube of Lincoln Property Co,–Dallas represented the landlord.

Volkswagen has leased 52,135 square feet at Northbrook Business Center, Building 1, 1001 NE Loop 820 in Fort Worth. George Curry of JLL–Fort Worth represented the tenant. Sarah LanCarte and Jeff Givens of Transwestern–Fort Worth represented the landlord.

Robertshaw Climate has leased 16,450 square feet at Haltom Place Business Park, 6312 Airport Freeway in Fort Worth. Sarah LanCarte of Transwestern–Fort Worth represented the tenant. Leland Prowse of Transwestern–Fort Worth represented the landlord.

Epic Health Services has leased 9,754 square feet at 1000 St. Louis Ave. in Fort Worth. Matt Heigelbaugh and Cribb Altman of Cushman & Wakefield–Dallas represented the tenant. Guion Gregg of Gregg Enterprises represented the landlord.

Ross Air Conditioning LLC has leased 8,450 square feet at 6413 Midway Road in Haltom City. Bob Scully and Brice Wells of CBRE–Fort Worth represented the landlord.

Fit Club 250 has leased 4,593 square feet at 608 S. Jennings Ave. in Fort Worth. Jake Burns of Structure Commercial represented the tenant. Dawn Potthoff of Coldwell Banker Commercial NRT represented the landlord.

Adventure Kids Playroom has leased 4,501 square feet at Alliance Town Center, 9100-9180 North Freeway E. in Fort Worth. Brandon Trimble and Andrew Sudderth of The Retail Connection represented the landlord.

L&C Gymnastics has leased 2,880 square feet at Old Main Street, 106-280 N. Main St. in Grapevine. Jake Burns of Structure Commercial represented the tenant and the landlord.

Capital Title has leased 2,125 square feet at Village at Camp Bowie, 6115 Camp Bowie Blvd. in Fort Worth. David Lewis, Hunter Brous and Lee Koons of Lincoln Property Co.–Dallas represented the landlord.

B Kids has leased 2,112 square feet at Village at Camp Bowie, 6323 Camp Bowie Blvd. in Fort Worth. David Lewis, Hunter Brous and Lee Koons of Lincoln Property Co.–Dallas represented the landlord.

Italian Crust has leased 2,000 square feet at Heritage Crossing, 2140 Hall Johnson Road in Grapevine. Mark Johnston of Glazer represented the landlord.

Penn Station East Coast Subs has leased 1,830 square feet at Gateway Plaza, 2901-3001 E. Northwest Parkway in Southlake. David Levinson and Jack Weir of The Retail Connection–Dallas represented the landlord.

K&E has leased 1,650 square feet at Harrison Park, 1006 Harrison Ave. in Arlington. William Ziegler of American Synergy Management represented the landlord.

Send real deals to Robert Francis at rfrancis@bizpress.net.

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