Thursday, January 14, 2016
Third-party logistics provider to open new Fort Worth location
Third-party logistics provider Ozburn-Hessey Logistics LLC has leased 100,500-square feet of space in the Northpoint Trade Center Building II, leasing the entire building for its sixth location in North Texas.
Lease negotiations for as-is space went full circle in 30 days, according to Bradford Commercial Real Estate officials who represented the landlord..
"They did look around, but there were limited options in that size range in that submarket," says Nick Talley, vice president of Dallas-based Bradford Commercial Real Estate Services, who represents the landlord, Exeter 700-751 Eight Twenty LP.
Northpoint's new tenant at 731 Eight Twenty Blvd., Fort Worth, has boosted occupancy to 94 percent in the 403,160-square foot, four-building industrial project. The remaining vacancy totals 24,276 square feet. Developed in 1999, the project offers Triple Freeport exemption and easy access to Interstate 35 and Loop 820, building in quick connections to Alliance and Dallas/Fort Worth International airports.
Building II has a 24-foot clear height, 26 dock doors, sprinkler system and 116 parking spaces on a 5.2-acre tract with 120-foot truck courts. "We had several users looking for smaller spaces, but we were holding out for a tenant who needed the entire building. Our strategy worked out well for the landlord because we were able to negotiate a market-rate lease," Talley says.
Nashville-based Ozburn-Hessey, one of the world's largest 3PL providers, was represented by Ann Huntington of CBRE Inc. The company maintains more than 36 million square feet of flexible warehouse space in at least 120 logistics centers worldwide.
Link to full article here
By Robert Francis for Fort Worth Business Press