ITW Food Equipment Group LLC has inked a 50,650-sf renewal and expansion, triggering a first-time milestone of 100% occupancy at the 214,650-sf Railhead Business Station in north Fort Worth.

ITW is more than doubling in size – leasing 25,692 sf of first-generation, class A space in 500 Railhead Blvd. and renewing 24,896 sf in 800 Railhead Blvd. The three-building project is owned by Sun Life Assurance Co. of Canada, which acquired the holding shortly after it delivered in 2007.

"ITW had reached capacity in its current facility and needed additional storage. We've had good activity on that space because of current market conditions, but it just made sense to renew and expand an existing tenant," says Nick Talley, vice president of Dallas-based Bradford Commercial Real Estate Services. He leases the project for the landlord.

ITW will move into the additional distribution space by month's end. CBRE's Bob Scully represented the tenant, which is marking its fifth year in the development.

Railhead Business Station, situated on nearly 15 acres, has maintained historically high occupancy due in large part to its positioning in an Enterprise Zone and business incentives like Triple Freeport and Foreign Trade Zone exemptions. With NE Loop 820 and Interstate 35 W close by, Railhead Business Station tenants have a distribution gateway to the north, east, south and west and proximity to Dallas/Fort Worth International Airport and Alliance Airport

Early next year, 20,835 sf of distribution space will open up in 800 Railhead, the largest of the three structures. Several prospects are already eyeing the space.

"The vacancy factor in the submarket is continuing to decrease and spaces of this size and asset quality are limited," Talley says.

LEASE

ITW Food Equipment Group LLC has leased 25,692 sf of distribution space in Railhead Business Station, 500 Railhead Blvd., and renewed 24,896 sf in 800 Railhead Blvd., Fort Worth. Nick Talley, vice president of Bradford Commercial Real Estate Services, represented the landlord, Sun Life Assurance Co. of Canada. Bob Scully of CBRE represented the tenant.

Bradford Commercial Real Estate Services/CORFAC International is a full-service real estate company based in Dallas with an annual transactions volume exceeding five million square feet. The company manages and leases more than 20 million square feet, valued at $300 million, in North Texas for its strategic partners.