Tek Nek Toys International subleased the 32-month balance and all the space in Pratt & Whitney's commitment to Northfield Distribution Center at 612 E. Dallas Rd. in Grapevine, Phil Sandlin of SCM Real Estate Services in Arlington tells GlobeSt.com. Sandlin, representing Pratt & Whitney, says the flex space came to market last July, but the backfill came in just 30 days of negotiations.
With its owner living in Tarrant County's Southlake, Tek Nek shifted the headquarters and customer service division from Chicago, getting 3,000 sf in office and the balance in air-conditioned warehouse space. The flex space was on the market for $5.75 per sf. Jerry Pozez of Ellis & Tinsley in Dallas represented Tek Nek. Northfield Distribution Center is a five-building, 441,253-sf development of San Francisco-based AMB Property Corp.
At Stanford Corporate Center at 14001 Dallas Parkway in Dallas, Tom Brown Inc. of Denver opened a regional headquarters in 22,263 sf of class A space. Greg Biggs, senior vice president and Dallas branch manager for the New York City-headquartered Studley, says the long-term lease builds in expansion options for the upstream natural gas growth company, which sealed the deal after its 2003 acquisition Dallas-based Matador Petroleum Co.'s lease expired at 8340 Meadows Rd.
Biggs says Stanford Corporate Center won the regional office for the economics on the table and the centralized commute for employees. According to the NTCAR Data Exchange, the building has 25,699 sf empty; the quoted rate is $19 per sf to $21 per sf, plus electric. Building owner Crescent Real Estate Equities Funding II LP in Fort Worth had in-house leasing director, Virginia M. Mulkey, working the deal.
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