Invesco, Perot Development Break Ground On 2.4M SF DFW Logistics Hub
The first phase of a 2.4M SF industrial hub next to Dallas-Fort Worth International Airport broke ground this week.
The project, known as DFW Park 161, is the brainchild of a joint venture formed by Invesco Real Estate and Perot Development Co.
The two companies partnered to transform nearly 200 acres on the eastern edge of the airport into speculative and build-to-suit industrial assets.
Phase 1 of the development, which is underway, includes construction of three e-commerce facilities, known as Logistics Centers 9, 10 and 11. Together, the buildings will add 1M SF of speculative logistics product to the e-commerce market.
Logistics Center 9 offers 646K SF of industrial space, 36-foot clear heights, 136 dock doors, 171 trailer storage spaces and 388 parking spaces on-site.
Logistics Center 10 is a 156K SF facility, featuring 32-foot clear heights, 35 dock doors and 164 parking spaces.
The third building, Logistics Center 11, will eventually offer 247K SF of industrial space, 32-foot clear heights, 60 dock doors, 54 trailer storage slots and 306 parking spaces.
Phase 2 calls for another 1.4M SF build-to-suit, e-commerce facility to be called Logistics Center 8.
The entire development will border President George Bush Turnpike in Irving, close to Interstate 635 and State Highway 114.
"With DFW Park 161, one of North Texas’ few remaining centrally located infill sites for a major global e-commerce hub, we will further build on Perot Development’s legacy of creating state-of-the-art logistics centers that directly support the region’s prime economic engine, DFW International Airport," Perot Development CEO Pat Perot said in a statement.
"We expect the project to see strong demand, due to the need for logistics facilities that can amply serve North Texas’ dynamic population growth and robust international trade sector."
First United Bank provided financing for the project, and Peinado Construction is serving as general contractor.
Halff Association is the named architect and civil engineer of record.
The joint venture selected Cushman & Wakefield’s Kurt Griffin and Nathan Orbin to handle leasing efforts when the buildings go to market.
