CARROLLTON, TX-A seven-year tenant, with four years left on its lease, has bumped its lease to 98,770 sf for the duration. In addition, two inbound tenants have taken down the 84,986-sf balance in the 497,800-sf Frankford Trade Center.

Precise Food Ingredients, a spice manufacturer, has added 40,748 sf of contiguous warehouse space to its long-time operations hub in the 221,400-sf Frankford Trade Center III at 1432 Wainwright Way. “We’d been talking to them for a long time about an expansion,” Jeff Thornton, senior leasing broker for the Indianapolis-based Duke Realty Corp., tells GlobeSt.com. “The need finally became great enough.”

In addition, USFI Inc. has tapped 49,345 sf and Brandt Affixing Inc. grabbed 35,641 sf in Frankford Trade Center III. “Basically, we took the building from 46% occupancy to 100% occupancy in a 20-day period,” Thornton confides. The Frankford Center deals filled the last holes from last year’s 85,000-sf hit by Ultimate Electronics Inc.

Thornton says dealmakers inked stair-stepped, seven-year leases for USFI and Brandt. Brandt, like Precise Food Ingredients, has just turned on lights to its new warehouse space, doubling in size with the move from 1625 Crescent Dr. in Carrollton. USFI, with locations along Ford Road and Royal Lane, hasn’t penciled its move-in as yet on Duke’s calendar.

Precise Food’s extra space had been marketed at $3.25 per sf to to $3.65 per sf. The warehouse’s other openings were tagged at $3.50 per sf to $4.50 per sf.

Greg Nelson, principal with Lee & Associates DFW, represented Precise Foods, which signed a co-terminus deal for the remaining four years. Russell Webb, vice president with Stream Realty Partners LP in Dallas, negotiated USFI’s lease and Mark Miller, president and principal of Dallas-based NAI Robert Lynn, was Brandt Affixing’s tenant rep. Thornton brokered Duke’s terms for Precise Foods and Brandt Affixing while colleague Curt Hefner handled the USFI deal.

Frankford Trade Center I is a 153,200-sf building at 2940 Eisenhower St. and its sister is a 123,200-sf warehouse at 1444 W. Frankford Rd.–both are fully leased. The triple play, Thornton says, “will button us down to the end of the year.”

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & 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 © 2024 ALM Global, LLC. All Rights Reserved.