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JLL Secures Financing for New DFW Business Park

JLL Capital Markets has arranged equity and construction financing for DFW Park 161 — a Class A+ industrial project by Perot Development Company. The park will incorporate 2.4 million square feet of logistics and warehouse space in Irving, Texas, at the Dallas-Fort Worth International Airport (DFW).

Working on behalf of Perot, Stephen Bailey, Dustin Voltz and John Rose of JLL arranged a partnership on the project with investment manager Invesco Real Estate, as well as a five-year construction loan.

The project is located on a 196-acre lot with direct access to and major street exposure along President George Bush Turnpike and State Route 161. DFW Park 161 is at the east end of DFW. Its premium location is next to the Dallas Area Rapid Transit (DART) Orange Line and across the freeway from the DART Belt Line Station.

The highly efficient business park will encompass 2.4 million square feet of warehouse and distribution space. In particular, a total of four cross-dock buildings will feature between 32- and 40-foot clear heights, 121 bays, 383 trailer parks and wide-column spacing.

Construction of the campus will occur in phases, and the project plan calls for efficient office, showroom and distribution facilities. Phase one will encompass three spec global e-commerce hubs currently dubbed Logistics Centers 9, 10 and 11. The firm estimates that the more than 1 million square feet of Dallas warehouse space for lease will be available in early 2021. Cushman&Wakefield is spearheading leasing at the property, with Kurt Griffin and Nathan Orbin serving as the designated leasing brokers.

Phase two — Logistics Center 8 — will also be an e-commerce hub. Potentially exceeding 1.4 million square feet in size, it will be built to suit. The general contractor for both phases is Peinado Construction, and the architect and civil engineer is Halff Associates.

Perks listed on the official property website include:

  • Foreign Trade Zone benefits
  • Triple Freeport inventory tax exemption available in Dallas County, Carrollton/Farmers Branch ISD and the City of Irving
  • Proximity to air cargo areas and major freight forwarders at the airport, as well as a USPS bulk mail center, and FedEx and UPS regional hubs

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