Piggyback Deals Bring First Tenant for 352,000-SF Project

ARLINGTON, TX-A Great Southwest building owner has cut piggyback deals in a sale and temporary leaseback until its new 40,000-sf location in ProLogis’ Arlington Corporate Center II delivers. Trimas Acquisition Inc., better known as Draw-Tite Inc., marks the first lease signing for Denver-based ProLogis’ two-building, 352,000-sf expansion in the Arlington industrial park.

ProLogis’ Mark Cashman says talks are under way with more tenant prospects, but it’s difficult to predict when more will close for the 19 1/2-acre, two-building project that delivers in late October. “The world has changed in the past week,” he stresses to GlobeSt.com.

Arlington Corporate Center II and III, situated at 3701 E. Randol Mill Rd., are twin buildings, each bringing 176,000 sf to market. The park’s original structure, totaling 492,500 sf, is fully leased to Mackie Automotive. ProLogis is operating at a 96% occupancy for its 4.8 million-sf positioning in the Great Southwest Industrial Park.

The long-term lease coincides with Draw-Tite’s sale-leaseback, which expires in early November, with SRR Properties Ltd. for a 32,200-sf industrial building at 1173 113th St. in Grand Prairie’s section of the Great Southwest park. Henry S. Miller Commercial’s David R. Dunn and Larry G. Rodgers, both in the Arlington office, handled the sale and lease negotiations for Draw-Tite.

Dunn tells GlobeSt.com that SSR, an Arlington-based supplier of commercial doors and hardware, will move in Jan. 1 after extensive remodeling of the 35-year-old building. Draw-Tite, a distributor of trailer hitches, put the building on the market about three months ago at an asking price of $28 per sf. Draw-Tite’s plans are to consolidate and expand, which includes a recently acquired Ft. Worth operation, says Dunn. The ProLogis site will serve as the primary distribution point for the Dallas-Ft. Worth metroplex.