Bradford Commercial Real Estate Services has pushed a four-building industrial portfolio in Farmers Branch, Texas to 100 percent occupancy, signing 24,261 square feet in two new leases and one renewal.
Midpoint Auto Group has leased 13,119 square feet at 3300 Garden Brook Drive while JKMG & International Co. Inc., dba Noroo, has taken 4,472 square feet at 3314 Garden Brook Drive, filling the balance of the portfolio’s vacancy. In a long-term renewal, United Fine Arts Services LLC has held fast to 6,670 square feet in 3109 Garden Brook Drive.
Brian Pafford, executive vice president and managing partner of Bradford, and Susan Singer, executive vice president, closed the triple play for the landlord, Gardenbrook Industrial LLC, shortly before the portfolio changed hands.
“These three deals certainly helped in the sale process,” Pafford said, “as did our ability to add to the portfolio’s value by raising the bar on future rates for renewals and new leases.”
The Bradford team was facing a six-month deadline to fill the 13,119-square-foot vacancy with another automotive group or face the loss of the permitted use. “We got the deal done in the nick of time,” Pafford said.
Pafford and Singer negotiated direct deals with Midpoint Auto Group and United Fine Arts Services. Daniel Lee of Stellar Real Estate LLC represented Noroo, which is opening its first location in Texas.
The portfolio also includes a single-tenant building at 3113 Garden Brook Drive and a multi-tenant structure at 4101 Lindbergh Drive. The shallow-bay warehouses are geared toward smaller tenants with spaces from 5,000 to 20,000 square feet.
“There continues to be strong demand for spaces in that size range,” Pafford said.