Developer Revs Up Speculative First Phase for $35M-Plus Industrial Park

IRVING, TX-A Dallas developer, unleashing construction on a five-year land hold, is building a 208,874-sf, two-building spec project as the lead-off play to an 830,000-sf industrial development with a build-out value exceeding $35 million.

Proterra Properties Inc. has carved out 12 acres from a 55-acre tract that was bought and banked about five years ago. "We've been waiting for the bridge to be built over County Line Road," says Dan Lawson, Proterra's marketing director. The first phase of spec space for Valley View Business Center, positioned at 5350 FAA Blvd., calls for a 117,200-sf building and 91,400-sf structure, with preleasing rates of $3.50 per sf and $5 per sf triple net, respectively.

Lawson tells GlobeSt.com that there are a few proposals working, but nothing's in hand as yet for the structures, the smaller of which will front FAA Boulevard. Proterra's land, positioned at the confluence of three major arteries, has direct access to Dallas/Fort Worth International Airport. "We think the north side of DFW Airport has done real well on new projects and the south side has not had too many new projects so we anticipate being well received," he says. The spec space will deliver in June.

The 117,200-sf warehouse, with a 28-foot clear height, is a front-park, front-load design tailored for 30,000-sf and larger users. The smaller building, with a 24-foot clear height, is a front-park, rear-load warehouse for tenants needing 15,000 sf or more.

Halff Associates Inc. of Dallas designed the project; Pritchard Associates Inc., also from Dallas, is the construction manager. Dallas-based Cadence McShane Corp. is the general contractor for Valley View Business Center's first spec buildings. About five years ago, Proterra developed a 400,000-sf regional distribution center for the Des Plaines, IL-based United Stationers Inc. on an abutting 25-acre tract.