Dual Lease Pushes 91,000-Square-Foot Building to 100% Occupancy

FORT WORTH-The 91,500-square-foot 800 Railhead Dr. at the light-industrial Railhead Business Station is 100% leased, thanks to simultaneous deals totaling 58,771 square feet. Weatherford Artificial Lift Systems Inc. (which leased 33,673 square feet) and Traulsen & Co. (which took down 24,898 square feet), will move into their new digs Q1 2012.

Nick Talley with Bradford Commercial Real Estate Services says both companies already have a presence in the region, and both leases are expansions. “The timing on these worked out in the landlord’s favor,” says Talley, whose worked with Bradford Commercial’s Karen Simon to represent  property owner Sun Life Assurance Co. in the lease transaction. “The fact that the landlord could put in one dividing wall, lease out the balance of the space, and get improvements into place, all of that helped get these deals done.” Bob Scully with CBRE represented both tenants in this transaction.

Talley tells GlobeSt.com that Bradford Commercial has had the listing for the entire three-building, 214,190-square-foot Railhead Business Station for about six months, and interest in the assets have been strong since that time. At the time the buildings came out of the ground in 2007, the northern submarket was experiencing a great deal of growth and expansion. Then came 2008 and a massively stalled market.

But in recent months, the growth and expansion patterns have resurfaced, meaning Sun Life Assurance, among others, are the beneficiaries. “Folks figured out what the doomsday scenario is like,” Talley explains. “The activity has picked up because I think most people believe we’ve seen the worst of it.”

Talley says there is approximately 115,000 square feet remaining at Railhead Business Station. In addition to 800 Railhead Dr., Railhead Business Station has 44,250 sf at 500 Railhead Dr., 78,450 sf at 600 Railhead Dr.