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DALLAS-Hillwood is ready to kick off work on a 263,100-sf build-to-suit in a one-off project for a Dallas-based logistics provider after polishing off negotiations for a 10-year building lease and a 40-year ground lease at the Dallas/Fort Worth International Airport.

The Network Logistics facility, with a ballpark $7-million development cost, will rise on a 12-acre tract at the southwest corner of East 11th Street and North 27th Avenue in the airport’s northern sector. Delivery is planned for March.

Earlier this year, DFW developers went head to head over the build-to-suit project, which required the winner to sign a four-decade ground lease with the airport’s governing board. With that leg of the deal done, Hillwood and Network Logistics started negotiations on the building lease. The going-in term is 10 years, Tal Hicks, president of Hillwood Investment Properties, tells GlobeSt.com. Al Leon of Leon Brothers Real Estate in Dallas represented Network Logistics. Hillwood’s terms were negotiated in-house by Dan Tatsch, Joe Bass and Preston Herold.

The project is Hillwood’s first in the DFW airport submarket. But, Hicks says, the development group is open to doing more on the airport-governed land. Hillwood Construction is the general contractor. GSR Andrade is the architect, designing the building with state-of-the-art, paper-handling capacity.

Network Logistics put dibs on the airport land because it is rail-served, part of a Foreign Trade Zone and has a northwest Dallas location for proximity to customers and its main hub in Carrollton. The firm, which will employ 35 at the airport facility, specializes in distribution of consumer products and electronics. “This site will allow Network Logistics to service any growing needs at DFW airport, including those related to Homeland Security measures for shipped goods,” Kathy Frasier, Network Logistics president, said in a press release.

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