Perot Development Co., which has developed a half-dozen warehouses in the DFW submarket, has kicked off a new industrial project, dubbed the Perot Development Logistics Center, near the airport.
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The new business park will be on 200 acres on Texas 161 and include four buildings that will eventually total about 2.4M SF, the Dallas Morning News reports.
The airport has agreed to a long-term ground lease with Perot Development, which has completed about 2.5M SF in the area in recent years. The new development will thus roughly double the size of the company's portfolio in the submarket.
The project comes on the heels of the completion by Perot Development of two buildings, Logistics Centers 6 and 7, at the north end of Dallas Fort Worth International Airport. Those buildings total nearly 142K SF.
DFW is one of the metroplex's hottest industrial markets, driven partly by demand among logistics firms.
According to Cushman & Wakefield, after the first three quarters of 2018, the Great Southwest, South Dallas and DFW Airport submarkets lead the market in net absorption with 8M SF, 5.1M SF and 2M SF for the period, respectively.
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