Big D's Hottest Industrial Submarket Is...
South Dallas is the industrial submarket to watch. JLL managing director Craig Jones broke down its two brightest features: new construction and big blocks of space.
South Dallas has almost 44M SF of industrial space, with 11.9% vacancy, Craig (here, with his family in Playa del Carmen over spring break) tells us. That’s higher vacancy than the DFW average, but Craig attributes that to the new construction.
Eagle Park 20/35 (rendered) is a newly announced 453k SF state-of-the-art distribution facility at I-20 and I-35. Craig says the project (marketed by JLL) will break ground in June and deliver in the second half of 2016 for single or multi-tenant users. Other new construction includes the 1.7M SF PointSouth Logistics & Commerce Centre, developed by Majestic Realty Co—at the juncture of I-20 and I-45. Also, Georgia Pacific will take occupancy of its 1.6M SF facility in Hutchins during Q2. The move into the new build-to-suit project is part of a consolidation from its existing distribution center in Mesquite on Samuell Boulevard and other locations, Craig says.
Craig outlined some large available spaces including Southfield Park 35 (rendered) at 501 W Danieldale Rd. The master-planned industrial park can accommodate tenants from 200k SF to 1.1M SF. The Class-A building provides access to I-20 and I-35. Mountain Distribution Center I is a vacant 630k SF warehouse at Grady Niblo Road, developed by Crow Holdings. It will deliver in July. DalPort Trade Center has a 549k SF block available for $3.25/SF, which is below market average. It’s one of the few industrial parks in DFW with direct rail service and provides true multimodal transportation alternatives, Craig tells us.