First Industrial had purchased the 40 acres in September from afamily trust. "We were there at the right time, with the rightamount of money," Jeff Gustafson, regional vice president, The all-spec undertaking is close to its first leasesigning, which, says Gustafson, would take up about half of thefirst planned twin buildings, 472,000 sf in a single-story,dock-high, tilt-wall design. The first building will be ready tooccupy by year's end.

The tract is situated on the north side of Miller Road withinthe northeast submarket. Gustafson credits Kirk Tames, FirstIndustrial's regional development officer, with steering theproject. Tames says the buildings can "reasonably accommodatetenants from 40,000 to 472,000 sf." Dave Anderson of CB RichardEllis holds the leasing contract for First Industrial's thirdproject in two years in the Dallas region.

First Industrial, says Gustafson, is planning to invest severalhundred millions of dollars in the coming years in projects in theDallas-Ft. Worth metroplex. "This includes actively seekingindustrial buildings for acquisition as well as land sites forindustrial development," he says.

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