Major Distribution Development to Begin in Wilmer
15 Dec, 2006, Dallas
Cushman & Wakefield Selected Leasing Agent for Business Park’s First Building
Pleasant Run Partners LLC has contracted to purchase a 29.4-acre site in the Sunridge Business Park located east of Interstate Highway 45 on Pleasant Run Road in Wilmer, Texas, and will begin development of the park’s first distribution facility, I-45 Tradeport I, in early 2007 with completion expected in the 4th Quarter of 2007. Dan Cook, senior director, Gary Collett, senior director, and Craig Hughes, director, with Cushman & Wakefield of Texas, Inc., the premiere commercial real estate services firm in Texas, will act as the exclusive leasing agents for the 520,000-square-foot building.
“I-45 Tradeport I is ideally suited for large distribution companies,” said Mr. Hughes, “with more than 167 secured trailer storage positions and a truck queuing area, the building provides competitive features that large logistics companies are demanding in today’s modern distribution facilities.” The building will feature concrete tilt-wall construction, ESFR fire protection, 32-foot clear ceiling height, 50-foot by 50-foot column spacing, and 60-foot staging bays. The park provides for excellent access to all major freeway systems (I-45, I-20, I-35E, I-30), and Triple Freeport inventory tax exempt status.
“This building is our first major success story,” said Don Hudson, Mayor of Wilmer. “The two planned buildings in Sunridge will broaden our tax base by $60 million, which will enable the city of Wilmer to enhance many services for our citizens, including emergency services and, as years go by, renewed infrastructure. The benefits from what they are doing are astronomical and we are very excited.”
Wilmer, Texas, is considered the next frontier of industrial development. Along with the availability of Triple Freeport Tax Exemptions, the area is included in Foreign Trade Zone application with DFW Airport Zone 39.
Sunridge Business Park is a 433-acre development by Prime Rail Interest and investors. With close proximity to both the Union Pacific-Dallas Intermodal Terminal, which opened August 24, 2005, and the proposed BNSF Intermodal Terminal, the park is ideally situated for trans-loading of shipping containers and the distribution of imported products from the Pacific Rim and abroad. The park is also at the crossroads of Interstate 45 and Interstate 20, which make the proximity even more valuable to logistics users and tenants. Prime Rail Interest is also developing a 59-acre container storage facility that will open January 2007 within Sunridge. Phase one will provide a capacity of 3,000 containers and 300 loaded trailers, providing added flexibility for shippers and distributors that require immediate access to the Intermodal facilities.
The development sponsor is Industrial Works Investments (IWI), a Dallas-based investment firm with a national platform for development and acquisition of industrial distribution facilities. IWI has projects underway in Wilmer, Cleveland, and Nashville and will pursue investments in both primary and secondary industrial markets throughout North America.
“Dallas is considered a major gateway to the southwest,” says Stephen Sanders, managing general partner with IWI, “and the region benefits from four intersecting interstate freeways for the transportation of goods between several of the major seaports and Mexico. This superior interconnectivity along with the Intermodal influence will drive demand for industrial space in the Southern Sector of DFW. This region also benefits from a favorable pro-business climate and aggressive economic development programs that really help make this development highly competitive with other regions of the U.S. and other sectors of DFW. The city of Wilmer has been very supportive of our efforts and we share in their enthusiasm.”
The I-45 Tradeport I development team includes architecture firm, Gromatzky Dupree and Associates; general contractor, Cadence McShane Corporation; and the civil engineering firm, Pacheco Koch Consulting Engineers, Inc.
Cushman & Wakefield is the world’s largest privately held real estate services firm. Founded in 1917, the firm has 195 offices in 55 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. We also provide valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm’s Web site at www.cushmanwakefield.com.
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