VanTrust Breaks Ground on Over 1 Million Square Feet of Spec Industrial Space in Southern Dallas
DALLAS, Texas (July 31, 2020) –VanTrust Real Estate, LLC (VanTrust), a full-service commercial real estate development company, recently broke ground on a 1,006,880-square-foot speculative industrial building in southern Dallas. Located just south of Interstate 20, DalParc Logistics Center is a part of a planned 200-acre logistics park, anchored by Amazon and L’Oreal, that will serve the growing e-commerce, logistics and manufacturing markets in North Texas.
“Southern Dallas is experiencing tremendous industrial growth as more companies work to transform and reinvest in this part of North Texas,” said Bill Baumgardner, executive vice president at VanTrust and head of the company’s Texas office. “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.”
North Texas continues to be the nation’s premier industrial destination. In the first half of 2020, nearly 8.2 million square-feet of industrial space was absorbed throughout the region. Southern Dallas experienced a 2.6 million square foot total net absorption during that timeframe, the highest of all six main industrial locations in Dallas, according to CBRE.
“As consumers continue to rely heavily on e-commerce, demand for large-scale distribution facilities is considerably increasing,” said Josh Meredith, director of development at VanTrust. “This is undeniably clear in the Dallas market. DalParc Logistics Center’s proximity to three major interstates and the Union Pacific Dallas Intermodal Terminal, make this a highly desirable destination for e-commerce fulfillment.”
In addition to its central geographic location and access to rail, air and ground transportation options, DalParc Logistics Center offers a wide range of strategic advantages. Among these are Texas’ business-friendly atmosphere, including the lack of a state income tax, a temperate climate that keeps logistics moving year-round, and a plentiful and highly skilled workforce. North Texas is also an attractive option for e-commerce and logistics operations due to the availability of industrial space and Class A offices, giving businesses the option to have both their corporate offices and their manufacturing and distribution centers in close proximity to ensure any issues can be addressed quickly and efficiently.
Nathan Lawrence and Krista Raymond of CBRE will be leasing the project. The project contractor is MYCON General Contractors, the architect is Alliance Architects and the civil engineer is Kimley-Horn. The building is slated for completion in July 2021.
VanTrust Real Estate, LLC is a full-service real estate development company. The company acquires and develops real estate assets for the Van Tuyl family portfolio and offers a broad range of real estate services including acquisition, disposition, development, development services, and asset management. Product types include office, industrial, multifamily, retail, institutional, governmental, hospitality, and recreational. VanTrust works nationally with regional offices in Columbus, Dallas, Phoenix, and Jacksonville, with its headquarters in Kansas City, Missouri.
