15,700-SF Lease Puts Owners in Hold Mode

FORT WORTH-An electrical parts distributor has crafted a five-year lease for 15,700 sf that pushes a 25,700-sf industrial building to full and pulls it from the “for sale” market.Consolidated Electrical Distributors Inc. will relocate within 45 days to 3209 Alta Mere Dr. on Fort Worth’s West Side. The firm will exit a building near Interstate 35 south of the city’s hospital district.

Jeff Givens of NAI Stoneleigh Huff Brous McDowell tells GlobeSt.com that the inbound tenant ended up being one of the first to tour the “for sale” or “for lease” listing that he assumed three months ago. The building’s balance is used as dead storage for a local moving and storage operation.

The freestanding building, situated in an older predominately retail area, was on the market for $750,000 by the Cross Cos. of Fort Worth, which now plans to hold it as an investment, Givens says. The submarket is getting $4 per sf to $5 per sf gross for comparable warehouse space. Todd Lambeth of Dallas-based Bradford Cos. was the tenant’s representative.