Industrial Project at DFW International Airport to total more than 640,000 Square Feet
Cabot Properties, Inc., a private equity real estate investment firm located in Boston, Mass., and Stream Realty Partners (Stream), a national real estate development, services and investment firm, celebrated the official groundbreaking last week of the International Logistics Center (ILC), a 646,796-square-foot, three-building speculative industrial development at Dallas/Fort Worth International (DFW) Airport.
Situated on 40 acres, ILC is ideally located on the south side of DFW Airport, in one of the most in-demand industrial markets in the country. The development includes three properties, which can accommodate a wide range of tenant sizes, from 20,000 square feet to 320,000 square feet.
The project features direct access to State Highway 360 and State Highway 183, both of which connect to major north-south and east-west thoroughfares, and is in equal proximity to the central business districts of Dallas and Fort Worth. The development is located in Foreign Trade Zone #39 and has Triple Freeport Tax Exemption, which offers substantial savings on inventory taxes and overall operating costs relative to other developments in the market.
“The site’s visibility and location, paired with the experience and dedication of the teams involved, have set this project up for success,” said John Terrell, Vice President of Commercial Development for DFW Airport. “The DFW Airport team is excited to have a new partner in Cabot and Stream, and we are looking forward to more projects with them in the future.”
Cannon Green, Blake Kendrick, and Sarah Ozanne of Stream’s Dallas Industrial team, will oversee the leasing and management of the project, which is headed by Damian Bailey, Senior Vice President of Investments, Cabot Properties. Additional partners in the development include Peinado Construction, GSR Andrade Architects, Pacheco Koch Consulting Engineers and Thompson & Knight, LLP.
The Dallas/Fort Worth industrial market continues to show strong signs of growth, ranking as the 5th largest in the United States, with approximately 771 million square feet of building space. The market also benefits from a central location, a growing population base, a pro-business mindset, access to a plentiful labor pool, and outstanding transportation infrastructure.