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.
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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.
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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.
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