DALLAS–First Industrial Realty Trust has broken ground on a two-building, 598,000-square-foot speculative industrial development. First Pinnacle Industrial Center is a 49-acre site in the South Dallas submarket.
“First Pinnacle Industrial Center is suitable for a range of businesses serving the region including consumer goods, food-related tenants, retailers, and other distributors and service providers,” Royal Pratt, First Industrial’s senior regional director and market leader for Dallas, tells GlobeSt.com
First Pinnacle will consist of a 376,424-square-foot building an a 221,714-square-foot building. Both will be class A, state-of-the-art facilities with 32-foot clear heights and dock-high loading. Pratt says they expect the buildings to be occupied by one, maybe two users each.
“We believe our project fits a niche serving smaller users seeking new construction in an attractive in-fill location with efficient highway access,” Pratt says. “There have been relatively few spec buildings developed since the beginning of the current cycle to accommodate tenants under 400,000 square feet.”
Construction should complete in the early part of the fourth quarter.
First Pinnacle will be located at 1241 N. Cockrell Hill Rd., just south of I-30, 20 miles from Union Pacific’s Dallas Intermodal Terminal, and 10 minutes from the Dallas CBD.
Jones Lang LaSalle’s Terry Darrow, managing director, and Nathan Orbin, vice president, have been tapped as the project’s leasing brokers.