Duke Realty Signs Tenant for Dallas Industrial Development
- Apr 06, 2021
Yokohama Tire Corp. has signed a full-building lease with Duke Realty for Intermodal III Industrial Park, a 431,630-square-foot facility in Wilmer, Texas. The tenant plans to occupy the property this summer.
Duke’s portfolio in the Metroplex comprises approximately 17 million square feet of properties. In March, the company arranged a long-term lease with a global provider of wireless services at Lakeside Ranch 350, a speculative facility in Flower Mound, Texas.
Located 15 miles from downtown Dallas on 22 acres at 600 Sunridge Blvd., Intermodal III features 85 dock doors, 7,000 square feet of office space. The LEED Certified property also has 281 parking spaces and 114 trailer storage spaces.
CBRE’s Nathan Lawrence, Kacy Jones and Krista Raymond, along with Duke’s Matt Hyman represented the owner. Lawrence is also the leasing agent at Forney Distribution Center, a 621,874-square-foot development in East Dallas scheduled for completion in May of next year.
Underpinning the region’s solid fundamentals, the Metroplex’s industrial sector is positioned for continued growth. According to CommercialEdge’s March industrial report, the metro’s vacancy at the end of February stood at 5 percent, compared to 6.1 percent nationwide, though the more than 27.2 million square feet under construction is likely to keep rent growth more modest than in supply-constrained coastal markets.