The three-year lease was locked down within a month of FoundationWorks Inc. starting its search of warehouse product along Interstate 20, Gary Lindsey, senior vice president in Dallas for Grubb & Ellis Co., tells GlobeSt.com. "We looked at eight buildings. This one just stood out as the right fit," he says about the FoundationWorks' decision for the 4884 Duncanville Rd. warehouse, owned by the Bradford Cos. of Dallas. The "right fit" called for roughly 2,000 sf of office area and the balance in warehouse space.
"Being on Interstate 20 was important to them," Lindsey says, citing the Bradford building had added leverage because it's close to the intersection with Interstate 35. "They are going to ship all over Texas from there and maybe Oklahoma."
Lindsey says FoundationWorks has dibs on an abutting vacancy in the 64,850-sf warehouse, but most likely "they're going to sit with that amount for three years." Bradford's 173,175-sf warehouse is on the market for $2.75 per sf, triple net, with Michael Spain, Bradford's marketing director for the Great Southwest Industrial District, leading the campaign to fill the 64,850-sf vacancy in the 27-year-old, 19-dock building.
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