DALLAS--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
LOGISTICS PROPERTY CO. SIGNS LEASE WITH FORTUNE 100 IN NEWLY ACQUIRED CLASS-A DFW LOGISTICS PARK
Southport Logistics Park is the company’s first development in the transportation hub of North America
Logistics Property Company, LLC (LPC), a logistics real estate platform focused on the acquisition, development and management of state-of-the-art logistics properties in key North American markets, today announces its arrival in the Dallas market with Southport Logistics Park (Southport), a 252-acre master-planned logistics destination within the South Dallas submarket of Dallas-Fort Worth, Tx.
At full build-out, Southport will house over 8.6 million square feet of Class-A industrial space. Southport currently houses 1.5 million square feet under two buildings, a 400,000 square foot cross-docked facility fully leased to an operating subsidiary of a Fortune 100 company and a 1.1 million square foot cross-docked facility currently being marketed for lease. Located one mile east of Interstate 45 and the Union Pacific Intermodal, and five miles south of Interstate 20, Southport offers tenants a premier logistics location within Dallas-Fort Worth and the Southern hemisphere.
“We’re pleased to announce Southport Logistics Park as the first of several scalable, state-of-the-art logistics developments in Dallas,” said Kent Newsom, LPC’s Executive Vice President – South Region. “Our business model allows for further expansion of Southport Logistics Park, and we’re delighted to be marketing it for lease and build-to-suit with CBRE.”
“We’re excited to be working with the experienced and dynamic team at Logistics Property Company,” said Mr. Jones. “With its prime location in a top logistics submarket near major transportation arteries and intermodal hubs, we expect to see strong interest in this property.”
Increasingly reputed as the transportation hub of North America, Dallas was rated as the best city in the U.S. for real estate, according to a report released on October 10, by PwC U.S. and the Urban Land Institute.
Less than 48 hours from every major market in North America, with four major interstates, three major railroads, Dallas is where all roads lead from, the perfect logistics and manufacturing center for all types of operations, big or small, according to the City of Dallas Office of Economic Development.
LPC anticipates closing on additional properties in Pennsylvania, Georgia, Texas and the Midwest in the near term, as part of a development pipeline exceeding 20 million square feet. The company is targeting leading industrial markets across the U.S. with strong population demographics and significant in-place infrastructure.
About Logistics Property Co.
Logistics Property Company, LLC (LPC) is a logistics real estate platform focused on the acquisition, development and management of state-of-the-art logistics properties in key North American markets. The management team of LPC partnered with Macquarie Capital Real Estate Investments (MREI) on the formation of the platform. LPC currently manages properties in key logistics markets including Dallas, Houston, Chicago and Seattle-Tacoma with an estimated end-value of over $1 billion. Headquartered in Chicago, LPC has offices in Atlanta, Dallas, Houston, and Los Angeles with office openings slated for Philadelphia, Miami and Seattle.