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Colliers & CBRE Arrange 353,920 Lease for Online Value Grocer Misfits Market to Occupy a New Refrigerated Building in Fort Worth

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Construction of build-to-suit freezer/cooler project is underway with expected completion by August 2022

Colliers & CBRE announced today that Misfits Market, the fastest growing

online grocer that offers quality, sustainably sourced food at a value, has signed a lease for a new build-to-suit of a dedicated refrigerated warehouse in Fort Worth, Texas. The new facility located at 2101 Joel East Road will span 353,920 square feet of multi-temperature freezer and cooler space and is scheduled to be completed by the end of August 2022.

 

Brad Balke, Paul Boskovich, Mark Maguire, Nick Mascheroni, Tom Pearson, Justin Smutko, and Chris Teesdale of Colliers represented Misfits Market in the transaction. David Sours, Kevin Kelly, and Lucy Durbin of CBRE’s Food Facilities Group represented the developer.

 

“This highly specialized project will allow Misfits Market to start fresh in the Dallas/Fort Worth market with a building that perfectly suits their temperature needs, racking configuration, and order assembly requirements with a brand-new, efficient, refrigerated building,” according to Brad Balke of Colliers. 

 

“The Misfits Market project required a custom approach to their nuanced refrigerated build. Up against increasing construction costs and material delays, the process had no room for error or learning curve for this custom, refrigerated build,” said David Sours of CBRE. “Demand continues to accelerate for food storage facilities in Dallas-Fort Worth, cementing its status as one of the largest distribution and logistics hubs in the country.”

 

Tom Pearson of Colliers explained that the location and configuration of the site were key to the site selection. “The site was well laid-out, immediately pad-ready, and presented a logistical advantage for Misfits Market with great access to I-35W and I-20. Despite the headwinds of the construction environment, we were able to deliver Misfits Market an exceptional site and development plan for its future operations in Fort Worth. DFW continues to be a magnet in attracting more companies seeking a central location, an expanding population base, a business friendly environment with incredible amenities that make our area a great place to live, work and play.”

 

Misfits Market is the fastest-growing grocery service in the U.S. that creates food access, not food

waste. The company delivers fresh organic produce, high-quality meats and seafood, sustainably sourced pantry staples, and other grocery items straight to your door at up to 40 percent off grocery store prices. Driven by its mission to bring affordable, quality food to more people, the company leverages direct relationships with growers and producers to reduce food waste at scale and eliminate inefficiencies in the food system. Founded in 2018 and headquartered in Delanco, New Jersey, the company added Texas to its growing list of states where it delivers when it entered the Dallas market in June, with plans to expand to the rest of the state this month.


Related Experts

Tom Pearson

Executive Vice President

Dallas

Tom is an executive vice president and active member of Colliers’ Logistics and Transportation Solutions Group and a member of the Supply Chain Real Estate Advisors Team with Chris Teesdale, SIOR and Brad Balke in the Dallas-Fort Worth office of Colliers International. His 40-year industrial real estate career spans every facet of industrial real estate. 

Tom played a key role in handling the national relocation of the distribution center for a Fortune 100 company in addition to selling and leasing significant properties in multiple markets for some of the largest corporations in the United States.

Prior to joining Colliers in 2006, Tom worked at Cushman & Wakefield as a senior director, member of the Capital Markets Group and the Industrial Group.

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Chris Teesdale

Executive Vice President

Dallas

Chris G. Teesdale is an executive vice president and active member for Colliers Logistics and Transportation Solution Group.  He is a member of the Supply Chain Real Estate Advisors Team with Tom Pearson, SIOR and Brad Balke in the Dallas-Fort Worth office of Colliers International. He is one of North Texas’s most accomplished industrial real estate specialists with more than 40 years’ experience in every area of industrial real estate. 

Chris specializes in the representation of users for industrial properties, including lease and sale negotiations, strategic planning, finance, development, logistics and multi-modal services. His extensive experience enables him to forecast and anticipate industry trends for his clients.

Chris became a certified coach in 2014 and has coached young professionals in Colliers’ Acceleration Program for several years.

Chris moved his practice to Colliers in July 2005. 

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Brad Balke

Associate Vice President

Dallas

Brad focuses on the Dallas-Fort Worth industrial market for Colliers International and works primarily with Tom Pearson, SIOR and Chris Teesdale, SIOR, in representing tenants in lease negotiations, renewals or expansions. 

He represents corporate logistics and transportation clients in their real estate decisions and specializes in the evaluation of the overall corporate business goals. Brad also assists in targeting specific prospects for team representation, showing buildings to clients, conducting property research, business development and assisting with transaction negotiations. Over the years, Brad has gathered expertise on numerous projects: portfolio analysis, national portfolio transaction management, incentive management, sale-leaseback, build-to-suits, site selection, employee studies, acquisition and dispositions, office and industrial. 

Brad also serves as a nominator on the Ernst & Young Entrepreneur of the Year Award committee. His role is to nominate logistics/transportation/manufacturing companies for this prestigious award.

Prior to joining Colliers, Brad served as Market Research Analyst for Swearingen Realty Group, LLC, where he developed market expertise in space availability reporting, market conditions research, and procurement of relevant lease comparable. He managed responsibility for 182,269 total square feet in 19 different states. Before entering real estate, he worked as an Account Executive for Moroch Partners.

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