Bradford Commercial Real Estate Services has signed seven new leases and two renewals at Park Forest Office in North Dallas in a whirlwind round of leasing sparked by reimagining the first floor as prime retail space.
“We decided to focus on retail uses and medical to take advantage of Park Forest’s design, which features first-floor spaces with private entrances from the exterior and interior of the building,” says Kyle Espie, market director for Dallas-based Bradford.
The nine transactions, totaling 5,562 sf, were inked in the past month. Move-ins are underway in the three-story building at 3530 Forest Lane in Dallas and will continue through July.
Five of the nine newly signed leases hail from the beauty industry, including the two renewals. The Blue Mousse Hair Studio, which is marking its 11th year in Park Forest, has renewed 1,185 sf and Derma Beauty has re-upped 656 sf.
Also snapping up first-floor retail spots in Park Forest areMimi Beauty Spa, 719 sf; Bee at Ease Skin Care, 583 sf; and Paradise Brow, 298 sf.
“I’ve managed to change the dynamic of the marketing and audience for Park Forest,” Espie says. “The retail space is now 87% leased.”
Espie also has landed four new office tenants – a Dubai-based engineering company, Solafide Projects LLC, which has leased 891 sf for its U.S. satellite office; A&B CDL Truck Rental, 559 sf; USTN Inc., 347 sf; and Verdeclean, 324 sf.
Espie has negotiated direct deals for all deals except Verdeclean. Its broker was David Gumbert of NAI Robert Lynn.
Bradford’s reimagining of Park Forest included adding four spec suites, three of which are now leased. Espie says the local landlord, BOP Park Forest LLC, is considering adding more speculative offices and upgrading the large surface parking lot at the 66,299-sf class B project, which is hovering 50% occupancy overall.
Park Forest Office, completed in 1969, is situated on a 1.8-acre tractless than one block from a DART rail/bus stop. Also close by are Interstates 635 and 35 E and the Dallas North Tollway.
“Park Forest’s activity is significantly higher than it’s been for some time,” Espie says. “There are another 11,000 sf of deals in the pipeline, proof that the repositioning strategy is working.”
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.
