VanTrust Real Estate is adding to its industrial portfolio with the third building in its DalParc Logistics Center.
The Southern Dallas development firm recently broke ground on the facility, which is located just south of Interstate 20. DalParc Logistics Center is part of a planned 200-acre logistics park, anchored by Amazon and L’Oreal, that will serve the growing e-commerce, logistics, and manufacturing markets in North Texas.
“Southern Dallas is experiencing tremendous industrial growth as more companies work to transform and reinvest in this part of North Texas,” said Bill Baumgardner, executive vice president at VanTrust and head of the company’s Texas office. “With the vacancy rate decreasing to 7.9 percent, we believe Southern Dallas is going to be the next industrial hotspot that can accommodate our customer’s need for speed-to-market delivery as consumer behavior changes.”
In the first half of 2020, nearly 8.2 million square feet of industrial space was absorbed throughout the region. Southern Dallas experienced a 2.6 million square foot total net absorption during that timeframe, the highest of all six main industrial locations in Dallas, according to CBRE.
“As consumers continue to rely heavily on e-commerce, demand for large-scale distribution facilities is considerably increasing,” said Josh Meredith, director of development at VanTrust. “This is undeniably clear in the Dallas market. DalParc Logistics Center’s proximity to three major interstates and the Union Pacific Dallas Intermodal Terminal, make this a highly desirable destination for e-commerce fulfillment.”
The nearly $34 million project is expected to be ready by next summer, according to filings with the state.
Nathan Lawrence and Krista Raymond of CBRE will be leasing the project. The project contractor is MYCON General Contractors, the architect is Alliance Architects, and the civil engineer is Kimley-Horn.
VanTrust also recently announced it was developing a 115,000-square-foot speculative office building, McKinney Corporate Center II, near State Highway 121 in Craig Ranch. The firm is a partner in the $2 billion Frisco Station development in Frisco.
