The Dallas-Fort Worth area continues to show strength in the industrial market.
With construction on their latest spec development still ongoing, Liberty Property Trust has announced that the new facility has been fully preleased.
Located in the heart of the Great Southwest submarket, at 5350 Frye Road in Irving, Liberty Park GSW North Building 1 is a 172,120-square-foot industrial property. Shell construction is expected to be completed before the end of October.
In their search for a tenant, Liberty Property Trust was represented by Cushman & Wakefield (NYSE: CWK) Executive Managing Directors Kurt Griffin and Nathan Orbin, and Associate Vice President David Eseke.
“The Great Southwest submarket continues to lead all of Dallas/Fort Worth in absorption year-to-date due to its vast supply of quality labor, its access to major highways, and its proximity to DFW International Airport,” said Eseke, Associate Vice President of Leasing Tenant Representation at Cushman & Wakefield. “We felt a new building with modern amenities and the ability to fully secure the property was always going to be attractive to both the existing GSW tenant base and the groups looking to plant a flag in DFW.”
The property features a front-park, rear-load layout and a 36’ clear height—a rarity for buildings of this size in the Dallas-Fort Worth market.
The building has been leased by Chase Industries, a Cincinnati-based manufacturer of custom traffic doors and specialty industrial traffic door systems. Colliers International represented the tenant in its search and lease.
“We believe the building is a great fit for Chase,” said Mike Heise, Vice President of Liberty Property Trust. “We are pleased they have chosen to grow with Liberty in Dallas.”