COPPELL, TX-Triggering a heated race among the development crowd, a two-year tenant in Duke Realty Corp.’s Freeport North has tapped an under-construction building in the park for its expansion. The keys to the 143,000-sf Freeport XIV will turn as soon as it delivers.

Uline Inc., which occupies 160,000 sf in Freeport VIII, had developers of all new space within a two-mile radius jockeying for the long-term deal. “They needed to get in. If we were a month later in delivering, we would have lost the deal,” Jeff Turner, senior vice president for the Indianapolis-based Duke, tells GlobeSt.com. “We really sped up getting this building up and done. It’s the fastest we’ve built a building in Dallas.”

Four months ago, Duke ramped up work on a two-building spec addition to its 3.5-million-sf park, which is 95% occupied. Uline’s warehouse and its 95,677-sf sister at 700 Bethany Rd. will deliver March 15. Turner says there are 13 acres left in the 200-acre Freeport North. And, he says, “the odds are high” that another spec building will come off the drawing board before too long.

Turner says talks, as expected, were aggressive to win Uline’s nod. “As any deal goes in Dallas, TX, with savvy competitors, you always have to be aggressive,” he says. The spec space was on the market for $4.50 per sf to $5.50 per sf net.

In sync with the completion, Turner says the crew will build out 2% of the building as office for Uline, which is a shipping supply specialist based in Waukegan IL. The rear-load Freeport XIV has 25 dock doors and a 24-foot clear height. Duke’s leasing representative Jeff Thornton won the deal in talks with Dave Anderson, a senior executive for CB Richard Ellis Inc. in Dallas.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.