Berkshire Subsidiary Takes 263,600 SF
- Jun 20, 2011
June 20, 2011
By Barbra Murray, Contributing Editor
Duke Realty has added a new name to the tenant roster at Point West VI, a million-square-foot industrial facility at the Point West Industrial Park in Coppell, Texas. Carpeting and flooring manufacturer Shaw Industries Inc., a Berkshire Hathaway subsidiary, will occupy 263,600 square feet of space under a long-term lease agreement.
Located less than 20 miles northwest of Dallas, Shaw’s new home carries the address of 400 Dividend Dr. and sits in a Foreign Trade Zone within close proximity of Dallas/Fort Worth International Airport. Shaw’s space in the three-year-old-building, developed by Duke Realty subsidiary Duke Construction, will allow the flooring company to bring operations from two local facilities under one umbrella in a space larger than the sum of square footage it occupies at its two current locations. With the assistance of commercial real estate services firm Colliers International, the manufacturer carefully combed the market to find just the right place to accommodate what will be a relocation, consolidation and expansion.
“Duke Realty’s reputation and financial strength, coupled with the building’s features and proximity to the Dallas/Fort Worth International Airport and major highways, were all important factors in Shaw Industries’ decision to make Point West VI their new southwestern distribution hub” Tom Pearson, executive vice president with Colliers, noted.
Shaw’s commitment to Point West VI brings the building’s occupancy level up to 75 percent, and marks yet another step forward in the metropolitan Dallas industrial market’s recovery. Net absorption increased from 1.4 million square feet in the fourth quarter of 2010 to 1.7 million square feet in the first quarter of this year, according to a report by real estate services firm Newmark Knight Frank.
Shaw is on track to make its move to Point West VI in July.