Mapletree Inks DFW Renewal, Expansion

Lasko Products has signed a lease renewal and expansion totaling 468,726 square feet at 900 Terminal Road in Fort Worth, Texas. The landlord is Mapletree US Management, Yardi Matrix shows.

Transwestern Real Estate Services brokered the deal on behalf of the tenant.

Lasko initially occupied 218,076 square feet at the property. Under the new agreement, the firm renewed the existing lease and committed to another 250,650 square feet, bringing the building to full occupancy.

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Mapletree has been the owner of the 639,000-square-foot facility since 2021, when it purchased it through a portfolio deal from Link Logistics, Yardi Matrix shows.

Completed in 1975 on nearly 24 acres, the light-industrial building features 15-foot clear heights, 60 dock doors, 19 overhead loading doors, five dock levelers and front-load configuration. The property also includes an 8,041-square-foot office suite, 617 vehicle parking spots and a truck court.

The facility’s location provides easy access to interstates 35 and 820, while also being adjacent to Fort Worth Meacham Airport and BNSF Railway Yard. Downtown Fort Worth is 5 miles away, while Dallas is 36 miles away.

Transwestern Principals Todd Hawpe and Jeff Givens, together with Vice President Lyndon Todd, brokered the deal on behalf of Lasko Products.

Dallas-Fort Worth industrial market still strong

The industrial vacancy rate in Dallas-Fort Worth clocked in at 11.6 percent year-to-date through October, according to a recent Yardi Matrix industrial report. The value, well above the U.S. average of 9.6 percent, was also one of the highest in the nation.

Ongoing industrial completions will likely continue driving vacancy rates higher across the country. However, markets like The Metroplex still experience a development boom. As of October, the metro’s pipeline was the largest in the U.S. at 31 million square feet, representing 3 percent of its existing stock.