H20 Signs 15-Year, 313,040-SF Lease

Upon its Q2 move-in at 4800 Langdon Rd. in the southern submarket, the Mercer, WA-based company will manufacture and distribute its bottled water and other beverage lines. It's anticipated the company will create 100 jobs once it's up and running.

Brian Adams, first vice president with GVA Kidder Mathews in Bellevue, WA and managing partner Nick Rossini with Mohr Partners Inc. in Dallas represented the tenant. Dallas Logistic Hub developer Allen Group relied on in-house representation.

Richard C. Allen, CEO with locally based Allen Group tells GlobeSt.com the deal with Advanced H20 was about six months in the making. He also says the 322,000 square feet of remaining space in building 1, as well as the entire 192,850-square-foot building 2, a speculative warehouse, are attracting extraordinarily strong interest. "We're working eight active deals collectively on both spaces," Allen says, predicting the entire speculative space will be leased up by summer.

Allen Group broke ground in late 2007 on its 827,850-square-foot speculative space , and was completed in April 2008. Other projects on-line for the mixed-use Dallas Logistics Hub include a 200,000-square-foot build-to-suit auto auction complex for Adesa Inc. that broke ground in fall 2008 and a long-term container-yard lease with Bridge Terminal Transport signed in late November 2008.

Additionally, Allen Group's sale of 198 acres to BNSF Railway Co. in May 2008 makes Dallas Logistic Hub the nation's first industrial park with two intermodal facilities. The 360-acre Union Pacific Intermodal Terminal is also on site.

Allen acknowledges lease-up and absorption is going much faster than anticipated when the company broke ground on the spec buildings in late 2007. He says in early 2008, Allen Group had projected that about 250 acres would be absorbed. The final absorption total was 620 acres and "right now, we're in final negotiations on another 150 acres we believe will close by the end of the first quarter," Allen comments.He says Dallas Logistic Hub is attracting notice because of its two intermodal facilities. Furthermore, the fact the park is environmentally friendly is also a draw. The two spec buildings received LEED certification, and the entire 6,000-acre development is environmentally friendly, with recycling, storm-retention water for landscape watering and availability of bio-diesel fuel.Allen says Dallas Logistics Hub was planned, from the start, to be green. Though such a development adds more costs on the front end, it increases value to future potential investors as well as appealing to many corporate users."One of the tenants we're working with tells us one of their corporate goals is to lease a LEED-certified building," Allen comments. "A lot of companies are making that part of their corporate philosophy and I think it's having a huge marketing advantage."