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Railroad supplier New York Air Brake has announced that it is significantly expanding its operation in Dallas.
The company is to move into 50,200 square feet of space in Freeport Corporate Centre II in Irving. Both industrial and office space are included in the new facilities.
Previously the company had been occupying 25,000 square feet of office space in Carter Industrial Park in Fort Worth.
As part of its expansion the company is looking to hire more employees across the Dallas/Fort Worth area.
Jim Ferris, Vice President of Bradford Commercial Real Estate Services, who helped broker the deal, said: “They have been hiring in Fort Worth. They wanted to get to a central location so they’d attract applicants from Dallas too.
“But, the key to this deal was the 30,000 sf of existing office space. I don’t think we even moved a wall.
“All they had to do was repaint and carpet it. This was one of those impossible deals a tenant finds; existing office space, requiring few tenant improvements.”
The company has signed an eight year lease on the property, and included in the deal is construction of another production and assembly area to accommodate New York Air Brake’s expected growth.
Additionally improvements to the office space will be made and there will also be a 7,000 square foot demo and showroom. Formerly the space was occupied by GE Aviation, which vacated in March of last year.
Currently the other tenant in the Freeport Corporate Center is Fresenius Medical Care, which currently takes up 90,100 square feet of the development. This leaves approximately 40,000 square feet still vacant.
Founded in 1890, New York Air Brake devotes over ten percent of its resources to developing new products and technology.