Optimal Elite Management LLC, a sign manufacturer, has acquired a 63,483-sf office/warehouse in the Great Southwest Industrial Park, shoring up a plan to relocate its headquarters and production facilities to North Texas from Los Angeles in June.
Optimal Elite's new hub is a two-story manufacturing facility on 9.5 acres at 2601 Pinewood Dr. in Grand Prairie. The seller, Breg Inc., will continue to occupy the site through a six-month sale-leaseback.
"The sale-leaseback agreement built in the time that both sides needed for executing their relocation plans," says Noah Dodge, broker associate of Dallas-based Bradford Commercial Real Estate Services. He and Jason Finch, market director, represented the buyer.
The acquisition went full circle in less than four months. Dodge credits the building's size and dynamics of the Great Southwest as the deal makers – labor availability, pricing and a location midway between Dallas and Fort Worth. Optimal anticipates creating at least 50 jobs when it ramps up production.
"This company has been looking to relocate to Texas for quite awhile," Dodge says. "We moved pretty quickly to identify properties that met Optimal's requirements and set up tours."
The buyer's requirements were a freestanding building with ample room to manufacture and assemble its specialty LED signs and meet future expansion needs. The Pinewood Drive structure, which is climate-controlled and fully sprinklered, has 46,950 sf of light-manufacturing space and the balance is office. Amenities include four dock-high doors, two oversized grade-level doors, heavy car parks and a 3,300-sf exterior storage facility. Steve Koldyke, Brian Gilchrist and Chris Powers of CBRE represented the seller.
NORTH TEXAS SALE
Optimal Elite Management LLC has acquired a 63,483-sf office/warehouse on 9.5 acres at 2601 Pinewood Dr., Grand Prairie, from Breg Inc. Noah Dodge, broker associate of Bradford Commercial Real Estate Services, and Jason Finch, market director, represented the buyer. Steve Koldyke, Brian Gilchrist and Chris Powers of CBRE represented the seller.
NORTH TEXAS LEASES
General Parts LLC has renewed 2,472 sf of industrial flex space in Commerce Park, 4823-45 W. Royal Lane, Irving, from Commerce Park Owner LLC. Jason Finch, market director of Bradford Commercial Real Estate Services, and Michael W. Spain, executive vice president and managing partner, represented the landlord in the direct deal.
Chase International has leased 2,372 sf of industrial flex space in Commerce Park, 8406 Sterling St., Irving, from Commerce Park Owner LLC. Jason Finch, market director of Bradford Commercial Real Estate Services, and Michael W. Spain, executive vice president and managing partner, represented the landlord. Richard Nin of Ebby Halliday 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.
