Trammell Crow Co., in partnership with Prudential Financial Inc., has kicked off construction of an 823,379-square-foot industrial building in southern Dallas. Called Trammell Crow Penn Distribution Center, the speculative facility will sit on 47 acres along Interstate 20.
It’s the third industrial development Trammell Crow has done with Prudential along the I-20 corridor, said Scott Krikorian, managing director and head of Trammell Crow Co.’s Dallas-Fort Worth business unit.
“There are two groups that have been instrumental in bringing this development together,” he said. “Prudential Real Estate Investors has been a great partner over the years and we have had great success. The City of Dallas has also been a strategic partner in the process. They have paved the way to provide economic growth to the I-20 southern Dallas corridor.”
Krikorian said the submarket is seeing strong demand for blocks of 500,000-square-feet-and-larger bulk warehouse space.
“The intersection of I-35 and I-20 has proven to be the epicenter of logistics with product moving from Mexico into the region and then distributed locally or nationally via I-20 and I-35,” he said.
Scheduled for completion in May 2014, the facility will feature 36-ft. clear warehouse space and pursue LEED certification.
