X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, TX-A Great Southwest building owner has cut piggyback deals in a sale and temporary leaseback until its new 40,000-sf location in ProLogis’ Arlington Corporate Center II delivers. Trimas Acquisition Inc., better known as Draw-Tite Inc., marks the first lease signing for Denver-based ProLogis’ two-building, 352,000-sf expansion in the Arlington industrial park.

ProLogis’ Mark Cashman says talks are under way with more tenant prospects, but it’s difficult to predict when more will close for the 19 1/2-acre, two-building project that delivers in late October. “The world has changed in the past week,” he stresses to GlobeSt.com.

Arlington Corporate Center II and III, situated at 3701 E. Randol Mill Rd., are twin buildings, each bringing 176,000 sf to market. The park’s original structure, totaling 492,500 sf, is fully leased to Mackie Automotive. ProLogis is operating at a 96% occupancy for its 4.8 million-sf positioning in the Great Southwest Industrial Park.

The long-term lease coincides with Draw-Tite’s sale-leaseback, which expires in early November, with SRR Properties Ltd. for a 32,200-sf industrial building at 1173 113th St. in Grand Prairie’s section of the Great Southwest park. Henry S. Miller Commercial’s David R. Dunn and Larry G. Rodgers, both in the Arlington office, handled the sale and lease negotiations for Draw-Tite.

Dunn tells GlobeSt.com that SSR, an Arlington-based supplier of commercial doors and hardware, will move in Jan. 1 after extensive remodeling of the 35-year-old building. Draw-Tite, a distributor of trailer hitches, put the building on the market about three months ago at an asking price of $28 per sf. Draw-Tite’s plans are to consolidate and expand, which includes a recently acquired Ft. Worth operation, says Dunn. The ProLogis site will serve as the primary distribution point for the Dallas-Ft. Worth metroplex.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.