640K SF Of New Industrial Space Leases Within Months
“In 18 years of working in this business, I have never seen a project lease this quickly to so many tenants,” Stream Managing Director J. Cannon Green said.
“The outcome of this project demonstrates the success of our business plan in developing a diversified industrial product in the center of the Metroplex."
ILC, which is owned by an affiliate of Cabot Properties, broke ground in September 2017. Four of the named tenants are American Hotel Register Co., Hotline Delivery Systems, Metrie and Creston Electronics.
The newly developed industrial site, at the south end of DFW airport, features three buildings and quickly secured leases with tenants demanding anywhere from 30K to 200K SF of industrial space.
Stream's Green and Blake Kendrick managed the development, while Sarah Ozanne handled leasing efforts.
The property is an ideal location for logistics firms since it comes with dual access points to state highways 360 and 183 — giving distributors direct arteries to the Fort Worth and Dallas business districts, Stream said.
“We are thrilled to add this asset to our portfolio,” Cabot Properties Senior Vice President of Investments Damian Bailey said. “ILC is an exceptional industrial project in one of the most sought-after locations in Dallas-Fort Worth. We are very fortunate to have had the opportunity to develop a best-in-class property with Stream as our partner.”
The project’s quick lease-up is not unusual considering industrial demand remains strong nationwide, particularly with e-commerce distributors searching for strategic warehouse spaces and logistics centers throughout the nation.