In partnership with owner Cabot Properties, Stream developed a 646,796 SF speculative industrial asset on a 40-year ground lease with DFW International Airport. This development provides access to both labor and consumers with a corporate business park image and close access to the DFW airport terminals.
While most projects of this size are programmed for single or few tenants, ILC was designed for multiple tenants from 30,000 SF to 350,000 SF. Structuring ground lease payments to pass through to tenants would create an advantage to fee simple competitive projects in the rising valuation market. The location would offer to industrial tenants in DFW the benefit of Triple Freeport and Foreign Trade Zone #30.
ILC was leased to seven (7) different tenants and achieved 100% occupancy with a diverse mix of industrial tenants in both business type and operational size, only four (4) months post-delivery. The asset was delivered on underdeveloped land, producing an asset valued over $58 million and tax base to DFW Airport and its owner cities. This ground-breaking arrangement led the way for additional significant development in the immediate area, support the surrounding infrastructure.
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