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Real Deals:CBC ADVISORS SECURES MID-CITIES OFFICE LEASES

🕐 6 min read

Coldwell Banker Commercial Advisors DFW has secured a new headquarters tenant, Unite Tech, along with an early renewal from ACCC Insurance Co. for a 70,949-square-foot suburban office property in Bedford.

Unite Tech’s management signed a long-term lease for 4,230 square fee and will move the headquarters team by year’s end from Euless to 3301 W. Airport Freeway in Bedford. Renee Efimoff, vice president of CBC Advisors DFW, and JP Humphrey III, associate, represented the landlord, Leasing on a Jet Plane LLC, in the direct deal.

A long-time tenant, Houston-based ACCC Insurance, has signed a straight-up renewal for its 4,229-square-foot regional office. William Mower of Champions Real Estate Group has represented the tenant.

“There has been a lot of interest in this building in the past three months,” Efimoff said. “And we’ve been seeing far more companies new to the area because of the better-priced office product that’s available in the Mid-Cities.”

Unite Tech provides business and technology solutions to more than 500 branch offices per day, primarily in the financial sector. Its professionals specialize in IT and networking, phone systems and security cameras

The landlord has invested in updates to the three-story office building, inside and out, to give it an updated modern look. The CBC Advisors DFW team’s largest remaining space is 11,500 square feet on the second floor.

STEELTEX MANUFACTURER

MOVING TO MANSFIELD

SteelTex, a division of Utex Industries based in Venus, announced its relocation to a 135,000-square-foot facility in Mansfield.

The company is relocating to 102 Sentry Drive in the Mansfield Industrial Park. The facility is owned by ASH JV and was previously occupied by Valmont Industries, which left in 2015. Peyco Southwest Realty Inc. represented the landlord and NAI Robert Lynn represented the tenant.

SteelTex manufactures specialty metal coating for high-pressure pumps. It employs 75 people at its Venus facility and expects to expand to 130 employees in Mansfield over the next five years.

“The SteelTex Division of Utex is excited to move into the city of Mansfield,” said Darrell Mitchell, operations manager, in a release. “Our expansion efforts are doubling our current local manufacturing capacity and expanding other product lines from the Utex portfolio to the Mansfield location. Remodeling is currently taking place and we hope to be producing products from the facility in early 2018.”

SteelTex began in 2009 as a steel fabrication supplier and was acquired by Utex in 2016. Due to the acquisition, SteelTex’s operations and product lines were expanded, requiring more space, and ultimately causing the company’s Mansfield move.

“The addition of SteelTex represents another in a long line of industries that have found a home in Mansfield,” said Scott Welmaker, director of economic development for the city, in the release. “They are a leader in their industry and their continued growth will add to the Mansfield economy.”

GREAT SOUTHWEST DISTRICT’S

INDUSTRIAL SPACES FILL UP

With small to mid-size industrial spaces at a premium, recent leasing activity has pushed occupancy to 100 percent at several properties in the Upper Great Southwest Industrial District.

In Bradford Commercial Real Estate Services’ recent round of leases, move-ins have been completed or soon will be at Woodlands Business Center, 2009 108th St., 1209 E. Avenue J and 605 Avenue R, all in Grand Prairie, and 3214 Dalworth St. in Arlington.

▪ Power Pro-Tech has snapped up the 7,868-square-foot balance of the three-building, 91,854-square-foot Woodlands Business Center. Michael W. Spain, Brock Wilson and Joe Santaularia of Bradford represented the landlord, SL4 DFW Industrial LP. Clint Manning, also with Bradford, was the tenant representative.

▪ Petroleum Solutions Inc. has leased the 10,000-square-foot balance of the two-building, 90,000-square-foot project at 1209 E. Avenue J. Bradford’s Spain and Manning represented the landlord, 1201 East Avenue J LLC. Patrick Embry of NAI Robert Lynn was the tenant’s representative.

Regal Corp.’s 18,687-square-foot renewal has kept the 60,000-square-foot Avenue R building at capacity. Bradford’s Jim Ferris and Spain represented the landlord, DCT-TX 2004 RN Portfolio I LP. Michael Stanzel of NAI Robert Lynn was the tenant’s representative.

▪ Peloton Cycle has leased 10,000 square feet in the Dalworth Street property. Susan Singer of Bradford represented the tenant. Landlord Vivian Jones Management Trust’s 53,110-square-foot building is handled by Corby Hodgkiss of the Mercer Co.

According to new Great Southwest market reports, the vacancy rate is 6.6 percent for industrial flex and 4.7 percent for shallow-bay spaces. Industrial vacancies of less than 20,000 square feet most often are snapped up within 30 to 45 days of coming on the market.

“This is indicative of current conditions in the Great Southwest,” Spain says. “It reflects how tight the market really is for industrial flex and shallow-bay product.”

MORE GOLDEN CHICKEN

Golden Chick, a Texas-based family of chicken restaurants, has opened its newest location in Fort Worth at 5701 Craig St.

This restaurant is the 175th addition to the rapidly growing Golden Chick family that has locations throughout Texas, Oklahoma, South Carolina, Georgia, Florida and Pakistan.

“We are excited to open our sixth Golden Chick location in the Fort Worth area,” said Mark Parmerlee, president and CEO of Golden Chick. “This is our second Fort Worth opening this year and we look forward to growing our presence in the city while continuing to serve our loyal customers.”

The new restaurant is expected to bring about 30 new jobs.

$25M MEDICAL CENTER

PLANNED FOR GARLAND

Grapevine-based New Era Partners is planning a $25 million medical center in Garland.

The City of Garland has approved a deal that will result in the development of the North Garland Medical Center at 7217 Telecom Parkway. The medical facility will have 95,000 square feet of space in a new three-story building.

“We are excited to launch this relationship with the City of Garland. When we started looking for potential project sites, Garland clearly stood out. There is a lot of new development happening in the area and we capitalized on the opportunity,” said Daryn Eudaly, New Era’s founder and CEO.

North Garland Medical Center is expected to be open in July as part of the fast-growing development near the President George Bush Turnpike. Construction has also begun on 112 new single-family homes and more than 3,100 multifamily units in the development corridor, and nearly 2 million square feet of data center space is underway nearby.

“Development interest and activity in the President George Bush Turnpike corridor is extremely dynamic right,” said David Gwin, Garland’s director of economic development.

Multiple doctors from the existing Family Medical Center, 5345 N. President George Bush Turnpike, and a number of new physicians and health care providers will have offices and operate at the new medical facility. Tenants will include Family Medical Center Garland, Touchstone Imaging, Legacy Heart and Signature Medicine. Medical specialties offered at the site will include radiology, gastroenterology, obstetrics, gynecology, cardiology and family practice.

New Era Partners was formed in 2000 to create surgery centers that are co-owned by physicians and professional management teams. New Era Medical is one of five major divisions of the firm and it has developed health care facilities in Texas and California.

New Era Medical also has plans to construct 175,000 square feet of medical space in Flower Mound and completed a two-story Baylor Scott & White Medical Center in Waxahachie in 2014.

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

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