DALLAS–Williams-Sonoma Inc. has leased an 821,502-square-foot property to serve as its Dallas-Fort Worth regional distribution center. The building is located at 4900 Sherry St. in Arlington, TX, along the southwest portion of Interstate 20 and Highway 360.
Exeter Property Group began construction on this speculative industrial property in June of 2013.
“The Interstate 20 corridor has become a significant logistics corridor in Dallas-Fort Worth, providing major east to west access, as well as connecting with other major transportation arteries like I-35 and I-45. These great transportation arteries also provide Williams-Sonoma, Inc. with excellent accessibility to a great labor force, as well as all other areas of the Metroplex and surrounding states.” says Tom Pearson, executive vice president at Colliers International.
Pearson, along with colleague Chris Teesdale, represented Williams-Sonoma, while CBRE’s Dave Anderson represented Exeter Property Group.
Today, large industrial spaces are difficult to come by in Dallas. 2013 saw 17.2 million square feet of industrial properties absorbed into the market. Currently there is 14 million square feet under construction throughout the Dallas-Fort Worth area. According to Colliers International, this makes the market the nation’s leader in industrial absorption, even over the Inland Empire and Chicago.
Through this lease, Williams-Sonoma was able to secure the largest currently available building.
“The Williams-Sonoma, Inc. lease was a win-win for both parties, as it was the largest available building in the DFW market at the time and the lease was finalized just as Exeter completed construction, thus beating their lease-up schedule for the spec building by a wide margin,” Teesdale says.