down 54,000 sf at Valley View
IRVING, TX-Pennsylvania-based Karndean International LLC entered the DFW market by taking down 54,000 square feet of office and warehouse space at the 414,960-square-foot Valley View Business Center. The residential and commercial real estate flooring company signed a long-term lease for the space, which it’s using for a southwest distribution center.
Though specific financial information about the transaction was not available, Joe Santaularia, broker associate with Bradford Commercial Real Estate Services says Karndean is paying between $15,000 and $20,000 per month, gross for the space at 5375 FAA Blvd., with TIs approximately $1 per square foot. Santaularia and Bradford Commercial colleague, senior vice president and managing partner Michael W. Spain, represented the tenant.
“We looked in Grand Prairie and in the Valwood District (northwest of Dallas) for space; it was a total of eight buildings,” Santaularia says. He tells GlobeSt.com that Valley View Business Center was the ideal space because it was a ready-to-go end cap, complete with close to 4,000 square feet of office space, nine dock-high doors and one drive-in ramp.
Santaularia acknowledges a tightening in the Dallas-Fort Worth area when it comes to finding quality industrial space. Still, “we located this space fairly quickly,” Santaularia comments. Dan Lawson of Proterra Properties Inc. represented Realty Associates Fund VII LP, the landlord of the five-building business park and the 85 acres on which it sits.
Karndean started as a small family business in 1973 and has grown into a market leader in the residential and commercial flooring industry. Karndean also has design flooring hubs in Asia, Australia, Canada, New Zealand and the United Kingdom. Santaularia says the flooring company also has a distribution center in Las Vegas.