DALLAS – Merritt Industrial Dallas LLC has sold the 58,193-sf Northgate Business Park IV to China-based AQS Corp. as part of an ongoing industrial disposition spearheaded by Bradford Commercial Real Estate Services.
The buyer has snapped up a vacant two-story industrial flex project at 2010 Merritt Dr., Garland, for its second location in the U.S. The international design and engineering firm also has offices in Silicon Valley and Hong Kong.
“We had good activity on this building even though it is 62% office. It’s a great project, but not too many companies need that much office space at an industrial location,” says Brian Pafford, senior vice president and managing partner of Dallas-based Bradford Commercial Real Estate Services, who represented the local seller.
Northgate Business Park IV, developed on 2.8 acres in 1986, was the longtime headquarters of the National Spirit Group. The two-story building and mezzanine, boasting 36,319 sf of office space, are fully air conditioned. The property has direct access to Miller Road and is close to Jupiter Road, a pair of densely developed primary arteries in the northeast Dallas business corridor.
AQS is planning to extensively renovate the freestanding Northgate Business Park IV prior to occupancy. D. Greg Cagle of Coldwell Banker Commercial represented the buyer of record, SJ & JL LLC.
Pafford and colleague Jason Finch also are marketing Merritt Industrial’s last asset – the five-building Switzer Business Park at 10840-10930 Switzer Ave., Dallas. The 123,000-sf industrial project is 95.2% leased.
Switzer Business Park is positioned less than two miles west of the just-sold Northgate and a few blocks east of Interstate 635. It too has Miller Road access.
“We’ve also had strong interest in this project because of its location and occupancy,” Pafford says. “It’s a good time to be a seller of small- to mid-size industrial product any place in Dallas/Fort Worth. It’s a tight market, with demand at an all-time high from investors and owner/users.”