National Distribution Centers Signs 242,980 SF Lease
National Distribution Centers LP has signed one of the more highly chased deals this year in the Upper Great Southwest Industrial District, renewing 242,980 sf - or more than half of Regency I's class A office/warehouse space.
Spain and Kevin J. Santaularia, Bradford's president and CEO, represented Teachers State Retirement Systems of Ohio, owner of the fully leased 406,110-sf Regency I at 1029 Post & Paddock Rd. in Grand Prairie. Jean Russo of Cushman & Wakefield of Texas Inc. represented the tenant.
National Distribution Centers, marking its third year in Regency I, began shopping the long-term lease about five months ago.
"The competition was real stiff for this deal. National Distribution did go out and look at the market," said Michael W. Spain, vice president and managing partner of Dallas-based Bradford Commercial Real Estate Services. "Even while we were negotiating, they were receiving proposals for other properties."
Regency I's space features a 30-foot clear height and full sprinkler system. As part of the new lease, new levelers will be installed on four of the tenant's 27 dock doors.