Stream signs 349,425 sf lease to food, beverage distributor in Northlake, TX

streamrealtyDALLAS, IN THE NEWS

A privately-owned food and beverage distributor based in Carlisle, Pennsylvania plans to open up a new North Texas distribution hub as it bolsters its supply chain.

Allen Distribution has signed a lease for 349,425 square feet of warehouse and distribution space in Northport 35 Business Center at 4250 Dale Earnhardt Way in Northlake near Texas Motor Speedway.

JLL’s Elizabeth Jones represented Allen Distribution in its real estate search. Stream Realty’s Cannon GreenBob Hagewood and Forrest Cook represented the owner, Clarion Partners.

Northlake 35 Business Center was recently developed by Dallas-based Stream Realty Partners in a partnership with Clarion Partners.

The three-building industrial campus totals nearly 1 million square feet of space, and has brought some much-needed industrial space to North Texas.

Dallas-Fort Worth is one of the most active industrial submarket in the United States, recently ranking No. 2 in the country. By mid-year, North Texas absorbed 9.3 million square feet of industrial space, which has helped keep the market below its historic vacancy rate, according to JLL research.

Last year, California-based Wesco Aircraft Holdings Inc. (NYSE: WAIR) signed a big real estate deal totaling 309,357 square feet within the business park, bringing a new warehouse to the region.

By: Candace Carlisle
SOURCE: Dallas Business Journal