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DALLAS-In a double closing, a Southern California investment group has hung a “no vacancy” sign on a 173,175-sf warehouse in Redbird Industrial Park. Now, its focus is on filling a two-month-old acquisition in another submarket.

One of the newest wins for AC Industrial Properties LLC of Buena Park, CA, is a long-term lease renewal with long-time tenant, the St. Paul-based ConAgra Foods Inc., for 108,325 sf in an office/warehouse at 4884 Duncanville Rd. The finishing touch has been a 39,646-sf lease to Yaquinto Printing Co., a Redbird tenant looking for overflow space to its main hub along Bronze Way. Foundation Works Inc. occupies the rest of the warehouse.

Michael Spain, vice president and partner in Dallas-based Bradford Cos., represented the building owner. Craig Jones with NAI Robert Lynn, also in Dallas, negotiated for the printer, which gets its keys March 1, and PJ Morgan, a local independent with a namesake firm, represented ConAgra.

Spain tells GlobeSt.com that ConAgra’s lease took several months to lock down although the tenant’s been in place at least seven years. “It was a matter of improvements to their space,” he says. The short-term deal with the printer, though, was inked in roughly 10 days. The industrial space had been on the market for $2.65 per sf, triple net.

With the lease-up in motion, AC Industrial Properties bought a 56,000-sf office/warehouse at 4401 Diplomacy Rd. in the Fort Worth section of the 1,300-acre CentrePort. According to tax records, the Achuck Family Partnership LP of Houston sold the asset in late December 2006 to AC Industrial. The deal was delivered in line with the going market rate of $30 per sf to $35 per sf.

The CentrePort building, situated on three acres, is getting a new roof along with truck court repairs and paint job, according to Spain. The space has been tagged at $3.95 per sf, triple net. “We’re chasing a deal for half of it right now,” he adds.

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