Tom Cobb, vice president of Oakmont Industrial Group, tells GlobeSt.com that finish-out will wrap up in time for a mid-May occupancy at International Airport Centre. Panalpina has signed for 51,225 sf. Cobb confides that a few more deals could break in the "near future" for 615 Westport Parkway, a neighboring 356,500-sf structure.
Interest has been high, but somewhat stymied by the lack of a conditional use permit for freight forwarding, Cobb explains. With that out of the way, present talks look very promising for Oakmont, whose property abuts the airport. "They (prospective tenants) know it's not an issue," he says.
The city decision came through on a unanimous ballot. "In the past, the City of Grapevine's stance has been very cautious with respect to freight forwarding, primarily due to the traffic impact on residential areas," says Oakmont's broker, Dave Anderson, senior vice president of CB Richard Ellis Inc.'s Dallas office. In Oakmont's case, its land does not neighbor residential areas.
Jerry Reis of Irving's Property Advisors Inc., represented Panalpina. a 107-year-old company with 320 branches in 74 countries and a 12,000-member workforce. The firm specializes in intercontinental air freight and sea freight consignments and associated supply chain management solutions.
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