Concerned about the amount of business opportunities available today? Perhaps you haven’t looked to Texas!
It’s truly amazing the level of activity that has happened recently and there are some really exciting projects we’ll see later this year. I had the privilege of participating in a panel discussion at the NTCAR 2013 Annual Broker Forecast breakfast earlier this spring at the Frontier of Flight Museum. My part of the discussion was industrial. I created a list of deals that had been completed in 2012, and a list of projects which we expect to see started in 2013.
Some as noted below, have already begun, some are still on the drawing board, but all have the potential to be kicked off this year. All of this bodes well for companies looking to locate in the Dallas/Fort Worth area, where there are lots of great options.
Build to Suits
Quaker/Pepsico 1,200,000 SF ProLogis Park 20/35 Lancaster (600 trailer parks, 100 doors, expandable to 1.6 million
BMW 260,000 (not done yet)
Ace Hardware by Centerpointe Properties of Chicago 460,000
Amazon by Hillwood (2) million footers, Coppell & Fort Worth
L’Oreal by Ridge 513,000 in South Dallas
Restoration Hardware by Weeks Robinson 858,000 in Grand Prairie
Prime Distribution by ProLogis 400,000 SF Mesquite
Eltek by Argent 107,000 SF in Plano
Winzer by Weeks Robinson 100,000 east Plano
Kohl by Hillwood in Desoto about 951,000
Billingsley purchased 225 acres in Mercer Crossing 90% industrial to be built
Billingsley 300,000 SF at Belt Line & Hwy 161
IDI 529K on Valley Parkway in Lewisville, construction underway
Seefried Southfield Park 35 with USAA buildings up to 1.5 million, planned
Hillwood 1,000,000 in DeSoto going to start very soon
Hillwood Alliance will start a 775,000 in February expandable to 3 million (Also have sold 80 acres in Alliance with another 100 acres under contract for other development projects)
ProLogis 653,000 expandable to 1 million under construction
First Industrial 273K in Pinnacle Park, planned for later 2013
Ridge Realty 500,000 SF spec next to L’Oreal, to be built simultaneously
Oakmont 462K & 292K Flower Mound
Trammell Crow/Clarion/Rosewood 202,500, 500,000, 297,500, North end of DFW Airport, construction has begun
Exeter plans 800,000 spec on land they just bought from IDI in south Arlington
Rob Huthnance, IIT, has started construction on a 300,000 spec at Amberpoint in Coppell
Duke has a site ready for 850,000 S Dallas @ I-35 and north of DFW Airport Lakeside Ranch 660,000
Majestic has a site they can build another 1 million next to Kellogg in Lewisville
Significant Recent Leases
IDI leased in Mesquite to Masonite 232,800
Weeks Robinson in Langdon project leased to Conn’s 320,000
Wal-Mart leased 788,000 from Hillwood in Alliance
Significant Recent Industrial Sales
Greenville sale 1 million from Rubbermaid to Fritz
GE bot IDI’s 679,000 and expanded to 923,000 at Speedway Distribution Center
Trader Joes purchased from Panattoni their 728,520 in Irving
The City of Dallas economic development director tells me they’ve seen three deals recently each over a million square feet. Of course it remains to be seen which of those will land in the DFW area.
A few questions below: I would love to hear what's going on in your market! Let me know!
- How does this compare with the activity you’re seeing in your market?
- Are build-to-suits going to continue rather than spec construction and does the increased size of these deals have an impact?
- As we are now at an 8 percent vacancy in the DFW market, why isn’t there more spec construction as there has been in the past when vacancy got to 8 percent?