DALLAS–Midlothian Economic Development has purchased 212 acres, with plans to develop a business park along the northwest corner of Highway 67 and Miller Road. Tom Pearson, of Colliers International, who represented the buyer in the deal, tells GlobeSt.com the purchase price was just over $2 million.
Pross Design Group has been selected to design the park. Construction is anticipated to begin this October with lots available beginning in the second quarter of 2015.
“Initially we are building road and utility infrastructure in the park to make it ready for a project to come in,” Larry Barnett, president and CEO of Midlothian Economic Development, tells GlobeSt.com. “Following infrastructure completion, we have had interest from investors to build one or more spec buildings that can be marketed to manufacturing entities.”
The business park will be marketed to companies looking to expand in the area.
“We see a market to be companies who have outgrown existing space and want a fully developed park to continue to grow their business,” Pearson says. “We will market the park, along with our other outstanding industrial properties, on a national level targeting companies who are growing/expanding and want to be in the Dallas/Fort Worth region.”
Chris Teesdale, who worked with Pearson on the sale, adds that they will focus on “manufacturing and ancillary businesses to existing manufacturing, including smaller distribution, who desire a quality community for their leadership and their families, and with outstanding access to both Dallas and Fort Worth.”
The new Midlothian Business Park will join the 1,600-acre RailPort Business Park. The property houses GDF Suez, an electric power plant and three distribution warehouses totaling 2 million square feet.
“Midlothian is already home to large distribution and manufacturing, along with corporate headquarters for Ennis Inc., and we want to continue to offer a community that has outstanding transportation access, is business friendly, and offers a high level of quality for employees,” Barnett says.