Smaller Space Demand Prompts 4.5-Acre Buy for 60,000-SF Spec Project

DALLAS-Atkins Property Co., a real estate development firm based here, has secured a 4.5-acre tract to build a 60,000-sf spec flex/office industrial building in an industrial and logistics corridor of the metroplex.

The undertaking in the DFW Freeport area of Irving is being sparked by a growing demand in the region’s commercial real estate sector, according to Cushman & Wakefield brokers who represented the seller, Nelson Spencer. The property is situated at the southwest corner of Statesman and Sterling Drive.

Atkins says his firm plans to market the flex project to prospective tenants with medium to high finish-out requirements, including the flexibility of adjoining storage space and high-ratio parking. The development will be available to users needing 10,000 sf to 60,000 sf. The two-year-old Atkins Property Co. specializes in the Dallas-Fort Worth industrial flex office market.

According to Cushman & Wakefield’s mid-year 2000 statistics, the Dallas industrial real estate market continues to defy predictions of overbuilding, as development has kept up with demand. Completion of over 4.7 million sf of new construction and more than 10.9 million sf of leased space through mid-year 2000 have contributed to a record level of absorption. Net absorption, the net change in occupied space, has exceeded 7.9 million sf, making it 55.3% higher than midyear 1999.