Miramar's Double Deal Seals 58,500 SF in 60-Month Pacts

ARLINGTON-In today’s tough battle for tenants, Miramar Development of Dallas has cornered two for its two-month-old project, a two-building, 251,165-sf office/warehouse complex in Arlington. The businesses took 58,500 sf in separate buildings, each signing 60-month leases.

Vanessa Walsh, Miramar’s operations director, tells GlobeSt.com that the Great Southwest Industrial Park development is 23% occupied. The tenants are an automotive distributor operation now unpacking in 19,400 sf and a furniture importer settling into 39,100 sf.

Tom Walrich of Banner Commercial in Dallas brokered the lease for the automotive distributor who relocated from nearby Grand Prairie. The furniture importer, which came from Fort Worth, did not have a broker to negotiate its terms. Walsh, naturally, represented Miramar at the bargaining table.

Arlington Distribution Center is a 22-acre project that delivered in March. When deals take the complex to the 50% mark, the plan is to start building again on an abutting eight-acre tract, says Walsh. The office/warehouses at the southeast corner of New York Avenue and Arbrook are bringing $3.75 per sf annually while incoming tenants are getting $4 per sf in TI allowance, she reveals.