GRAND PRAIRIE, TX-General Electric Co. opted to keep its regional distribution hub in the Great Southwest Industrial District, and signed a long-term lease renewal of 470,000 square feet at Regency II.
According to a press release from Dallas-based Bradford Commercial Real Estate Services, which negotiated the lease, GE started examining potential relocation options in late 2011, including remaining at Regency II, located at 1011 Isuzu Pkwy. “I can’t comment on the transaction’s details, but I can say GE looked at options from the Great Southwest to South Dallas, including buildings ranging from 500,000 square feet to 900,000 square feet,” says Michael W. Spain, Bradford’s senior vice president and managing partner, in the press release. Spain worked with Bradford Commercial’s president and CEO Kevin J. Santaularia to secure the lease on behalf of the landlord, Ohio-based OTR GP. “GE ultimately decided that renewal was the best course of action at this time,” Spain says.
Regency II has served as GE’s Southwest regional distribution center since January 1997. The 23-acre tract, developed in 1996, is situated 500 yards east of SH 360 and one block north of Post & Paddock Road, with a Union Pacific rail line at its rear doors.