The 136,000-sf first phase of the projected 400,000-sf industrial park is 75% leased, which is the barometer for starting another building, says John Lancaster, vice president of TIG Real Estate Services. And when phase two reaches that same milestone, it will be time to start the remaining 150,000 sf for the 25.4-acre undertaking near the intersection of Stemmons Freeway and Story Road.

The spec flex product is being built in one of the hardiest industrial markets in the Dallas region and like its primary competitors there is easy access to multiple freeways heading north, east, south and west. "It's always been a strong market due to its central location in Dallas," Lancaster tells GlobeSt.com. It's such a good location that the FBI and DEA are both building structures across the street. The development also is located in Triple Freeport and Dallas Enterprise zones, both leading draws for warehouse tenants.

Lancaster is close to signing a 50,000-sf tenant for Cornerstone's up and coming building, which carries an end-of-the-year delivery. Just Made, a drink mix operation, leases 50,000 sf of the project's lead building. The property is being quoted at $6 per sf with a $10 per sf for tenant improvements.

Dallas-based O'Brien & Associates is the architect for the project, designed with 24-foot clear height, rear-load and dock-high features. Mark Stahl of JSC Realty is acting as construction manager.

Dallas-based TIG has just snagged the leasing assignment for the property. Lancaster and Tom Smolik, senior vice president, are tag teaming the duties, which had been held by the Robert Lynn Co. in Dallas.