DALLAS--(BUSINESS WIRE)--Logistics Property Company, LLC (LPC) announces the groundbreaking of Building 3 at Southport Logistics Park (Southport) in the City of Wilmer, Dallas County, Tx, is scheduled for July 2020. The 1 million square foot logistics building is expandable to 1,234,160 square feet and located in a 252-acre master-planned logistics destination within the South Dallas submarket of Dallas-Fort Worth.
At full build-out, Southport can house over 3.55 million square feet of Class-A industrial space comprising four buildings:
- Building 1—1.1 million square foot cross-docked facility fully leased to an iconic American consumer packaged goods (CPG) manufacturer.
- Building 2—400,000 square foot cross-docked facility fully leased to an operating subsidiary of a Fortune 100 e-commerce retailer.
- Building 3—1 million square foot (expandable to 1.2 million square foot) cross-docked speculative building; and
- Building 4—850,000 square foot cross-docked speculative building.
“We’re excited to confirm the addition of Building 3 to our growing portfolio of Class A facilities at Southport Logistics Park,” said Kent Newsom, LPC’s Executive Vice President – South Region. “Our on-site and off-site teams have continued to work remotely during the COVID-19 global pandemic, so we’re on track for delivery in Q2 2021.”
As the only speculative logistics building currently moving forward in South Dallas, this site allows for a single building of 1,039,360 square feet expandable to 1,234,160 square feet or the excess land can be used for additional car or truck parking. It also boasts 40’ clear height, room for more than 300 trailer parking spaces, and over 650 car parking spaces.
“Although there has been a slight market slowdown due to COVID-19, signs point to an increase in velocity—especially for big box e-commerce players, as non-brick and mortar sales increase,” said Kacy Jones, Senior Vice President, CBRE’s Dallas-Fort Worth. “We remain bullish on LPC’s speculative strategy and look forward to finding the right new tenant for this superior logistics development.”
Located immediately east of Interstate 45 and the Union Pacific Intermodal, five miles south of Interstate 20 and 3 miles south of the second busiest FedEx Ground hub in the U.S. Southport offers tenants a premier logistics location within Dallas-Fort Worth.
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 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 MIRA Real Estate on the formation of the platform. LPC currently manages properties in key logistics markets including Atlanta, Chicago, Dallas, Houston, Mount Pocono, and Seattle-Tacoma with an estimated end-value of over $1.25 billion. Headquartered in Chicago, LPC has offices in Atlanta, Dallas, Houston, Los Angeles, and Seattle. For further information, please visit logisticspropco.com and follow us @logisticspropco.