Optimal Elite Management LLC has acquired a 63,483-square-foot office/warehouse in the Great Southwest Industrial Park. The deal shores up a plan for the sign manufacturer to relocate its headquarters and production facilities to North Texas from Los Angeles in June.
Optimal Elite’s new hub is a two-story manufacturing facility on 9.5 acres at 2601 Pinewood Drive in Grand Prairie, Texas. The seller, Breg Inc., will continue to occupy the site through a six-month sale-leaseback. Bradford Commercial Real Estate Services broker associate, Noah Dodge, and market director, Jason Finch, represented the buyer. Steve Koldyke, Brian Gilchrist and Chris Powers of CBRE represented the seller.
“The sale-leaseback agreement built in the time that both sides needed for executing their relocation plans,” said Dodge.
The acquisition went full circle in less than four months. Dodge credits the building’s size and dynamics of the Great Southwest as the deal makers, as well as labor availability, pricing and a location midway between Dallas and Fort Worth. Optimal anticipates creating at least 50 jobs when it ramps up production.
“This company has been looking to relocate to Texas for quite a while,” Dodge said. “We moved pretty quickly to identify properties that met Optimal’s requirements and set up tours.”
The buyer’s requirements were a freestanding building with ample room to manufacture and assemble its specialty LED signs and meet future expansion needs. The Pinewood Drive structure, which is climate-controlled and fully sprinklered, has 46,950 square feet of light-manufacturing space and the balance is office. Amenities include four dock-high doors, two oversized grade-level doors, heavy car parks and a 3,300-square-foot exterior storage facility.
Finch, along with Michael W. Spain, executive vice president and managing partner, also represented Commerce Park Owner LLC in two lease transactions at Commerce Park in nearby Irving, Texas. General Parts LLC renewed its 2,472-square-foot industrial flex lease at 4823-45 W. Royal Lane. Chase International, represented by Richard Nin of Ebby Halliday, has leased 2,372 square feet of industrial flex space at 8406 Sterling Street.