Tuesday , 27 September 2016
Breaking News

Avera Completes North Texas Industrial Project

Park 161 Distribution Center

Park 161 Distribution Center

(By Dale King) DALLAS – The just-completed, 347,015-square-foot Park 161 Distribution Center warehouse, centrally located in the Dallas/Fort Worth/Arlington region, is coming onto the market at a fortuitous time.

The area which experienced extensive industrial growth in 2015 should see a continuation of that progress this year, said Steve Koldyke, senior associate in CBRE’s Arlington office. Responsible for industrial leasing in the Great Southwest/Arlington submarket, he is in charge of securing a tenant or tenants for the new warehouse.

“We are very blessed to be in Texas at the moment, with all of the recent corporate relocations,” Koldyke said. “Dallas/Fort Worth is very well located to be a key city of many companies’ supply chain strategies for the future.”

“Our central location, good year-round weather, low cost of living, union-free labor and massive international airport make Dallas/Fort Worth an easy, safe choice for corporate decision makers,” he added.

“I do believe we will continue to see absorption in 2016 from national relocations, e-commerce distribution centers and organic growth from third-party logistics providers.”

The industrial vacancy rate for the D/FW region nudged downward from 6.9 percent at the end of 2014 to 6.8 percent as 2015 concluded. For the Great Southwest/Arlington submarket, the percentage of vacancies dropped from 5.1 percent to 4.7 percent in the same period.

The Park 161 Distribution Center completed in January is an institutional-quality, tilt wall building located on 18.8 acres at the northwest corner of State Highway 161 and January Lane. The building was designed by Powers Brown Architecture. Civil engineering was provided by Pacheco Koch, and AVERA Companies, a commercial real estate development, construction and investment firm, was general contractor.

“We have hit the ground running with a list of prospects we are targeting [to locate in] the asset,” Koldyke said. He pointed out the submarket “is widely known for aviation uses, General Motors-related partners and third-party logistics providers” serving the local and regional area. However, he said, “It is ideal for a myriad of tenants looking to service both Dallas and Fort Worth.”

The building is designed “to be a duplex or single-tenant facility.” Possible division of the structure will depend on the occupant or occupants who locate there.

Park 161 is a front-load building and features a 32’ clear height, 60’ speed bays, 52’ x 53’ column spacing, early suppression fast response (ESFR) sprinkler system and TPO roof system. It is located adjacent to the Great Southwest Industrial Park, less than 12 miles south of Dallas/Fort Worth International Airport, with easy access to both I-20 and I-30.

Leave a Reply

Scroll To Top
%d bloggers like this: