VanTrust Real Estate Breaks Ground On 1M SF South Dallas Industrial Building
A 1M SF speculative industrial building is in the works in South Dallas to accommodate the region's flourishing e-commerce and logistics activity.
VanTrust Real Estate announced plans to develop the DalParc Logistics Center, an industrial facility that sits inside the 200-acre DalParc Logistics Industrial Park. The park is already home to major retail logistics tenants, including Amazon and L’Oreal.
“Southern Dallas is experiencing tremendous industrial growth as more companies work to transform and reinvest in this part of North Texas,” VanTrust Executive Vice President Bill Baumgardner said in a statement. “With the vacancy rate decreasing to 7.9%, we believe Southern Dallas is going to be the next industrial hotspot that can accommodate our customer’s need for speed-to-market delivery as consumer behavior changes.”
The contractor for the new build is MYCON General Contractors, which is working off designs produced by Alliance Architects and the civil engineering services of Kimley-Horn.
The building is slated for completion in July of next year. VanTrust chose CBRE's Nathan Lawrence and Krista Raymond to lease the speculative industrial space.
VanTrust's spec build is a continuation of a trend already underway in 2019 with developers launching a healthy supply of new speculative building to accommodate growing DFW demand for industrial space.
While industrial activity struggled a bit at the start of the coronavirus pandemic, it has been marked as one of commercial real estate's few pandemic survivors, with CBRE reporting 19.2% of DFW's 23.2M SF of industrial space under construction is already pre-leased.
New construction has continued to break ground this year. Crow Holdings, Clarion Partners and Rob Riner Cos. plan to develop a 556-acre industrial park in South Fort Worth, and Stonemont Financial Group plans to break ground on two Class-A industrial buildings totaling 231K SF in East McKinney.
Contact Kerri Panchuk at kerri.panchuk@bisnow.com.
