DALLAS-Meridian IQ Inc., new parent of USF Logistics Inc., has just moved into 246,400 sf or half of an office/warehouse positioned on airport-leased land. The quietly negotiated lease carries a five-year term and fills the building.
Todd Lambeth, vice president of Dallas-based Bradford Cos., tells GlobeSt.com that few in the brokerage circle knew who he was showing around the market when he made calls about large blocks of open space in and around the Dallas/Fort Worth International Airport. The dealmaker for 1717 W. Airfield Dr. was the Foreign Trade Zone status, according to Lambeth.
Lambeth says the search was "extensive," but primarily confined to paper to keep the international tenant's identity under wraps. "It wasn't easy, but we did it," he says. The winner is a structure previously used as a distribution center for the Fairfield, CT-headquartered General Electric Co.
Lambeth says the building, owned by ING Clarion Partners of New York City, was retooled with 30 more dock doors and another 150 spaces for trailer parking. The building, quoted at $3.25 per sf net, now sports 65 doors and 250 spaces on Meridian's half.
Lambeth says the Overland Park, KS-based third-party logistics provider began moving into the building earlier in the summer, but just pulled in the last trailer from USF's former location in nearby Richland Hills. Pat Perot with Perot Development Co. in Dallas represented ING Clarion.
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