Industrial park coming to Arlington

Project proposal courtesy of City of Arlington

A logistics real estate giant is developing a master-planned industrial park in Arlington that could cost more than $65 million.

Prologis, the world’s largest developer of industrial real estate, is expanding its presence in Tarrant County with a 45-acre development to be located at 3601 Allen Ave. in Arlington.

The industrial park will have four buildings spanning a total of 714,420square-foot. Prologis also owns the land, situated near the I-20 and 360 corridors.

The development will generate 150 permanent full-time jobs in the next four years. Prologis said the industrial park will account for about 400 jobs by 2027.

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The Arlington City Council, in an Oct. 27 meeting, approved a reimbursement grant of up to $1.3 million to the developer for some of the project’s public roadway construction and drainage improvements.

“This is another opportunity here, in distribution and warehouse, in which this is going to be an incredible return,” Arlington Mayor Jeff Williams said during the meeting. “When we create jobs and this kind of improvement on our properties, that enables us to provide better services.”

San Francisco-based Prologis currently has 214 properties across 37.3 million square feet in Dallas-Fort Worth market, including several in the Great Southwest area neighboring Arlington and Grand Prairie, according to Prologis.

A recent report by Prologis has warned of a “critical shortage” of logistics and industrial space in early 2021. The shortage arises from a high increase in demand for leasing, uncertainty resulting from the pandemic and the need for a resilient supply chain and higher inventory levels, according to the report.

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“The contraction in the development pipeline means that available options for customers looking to expand could narrow quickly, particularly in locations with high barriers to new supply,” the report published in early October states. “Perhaps, more than ever, planning well in advance for logistics needs could become a source of competitive advantage.”

Construction on the new industrial space in Arlington will begin in 2021 or by early 2022.