DUKE REELS IN 227K
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|While many industrial tenants are trading up from older to newer space because of the favorable market, Duke Realty scored a coup in renewing two big leases totaling 227k from DAP Products and Balcones Recycling, Duke Dallas operations SVP Jeff Thornton tells us. Balcones Recycling renewed 96k SF in Two Valwood Park (pictured). The 127k SF industrial facility’s location at 13921 Senlac Dr. in Farmers Branch with rail access was a deciding factor in the company's decision to commit long-term, Jeff says. The Duke industrial portfolio (which has 15M SF of office and industrial in the DFW area) is made up of newer buildings, Jeff tells us, with these two locations both built in the mid-'90s. “They’re not the newest in town, but they're very well located and they couldn’t be getting that much if they traded up,” he adds.|
|DAP Products will continue to lease 131k SF in the 284k SF International II (pictured) at 3102 Miller Park South in Northgate International Park. The warehouse/distribution building is near DAP Products' manufacturing plant, Jeff says. “These are important renewals to us. In the past, some tenants would go for the cheapest deal. Now, tenants are looking at who their landlord will be down the road on a five- or 10-year lease." Colliers International’s Cash McWhorter and Larry Kell represented DAP Products. Stream Realty Partners’ Blake Rendrick and Will Nichols repped Balcones. Duke VP Randy Wood and senior leasing rep Curt Hefner repped Duke in both transactions.|