Construction industry specialized tools and fastening systems supplier Hilti inked the first deal at Jackson-Shaw’s 512k SF Parc Royal on West Royal Lane in Irving. The 65k SF lease is in Building 4 and the tenant will occupy the space on June 1. The 30-acre, four-building master-planned industrial park was completed in December 2014. It’s located on one of DFW Airport submarket’s last industrial infill spaces. Stream’s Blake Kendrick repped the landlord, Jackson-Shaw. JLL’s Forshey Hoobler repped the tenant. Jackson-Shaw partnered with GID Investment Advisor to develop the project. Texas Capital Bank provided the construction financing, Mycon General Contractors served as the GC, and GSR Andrade Architects was the architect.
Blake tells us demand within the shallow bay product around DFW Airport is strong. Securing the first lease with Hilti is important for the project and represents the type of companies Stream is looking for to lease the project. Currently, there isn't a shortage of shallow bay supply within the submarket, but Parc Royal’s location between I-635 and Highway 114 provides easy access to all major thoroughfares, Blake says. He expects to announce several more leases soon.
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