X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-With a merger looming overhead, Aviall Inc. has cleared all decks to double its 325,000-sf headquarters and central warehouse at Dallas/Fort Worth International Airport. Work will begin before the month ends.

Aviall’s third quarter activity will include the closing of a $1.7-billion buyout by Chicago-based Boeing Co. Hillwood, with deep local ties to Boeing, won the construction nod to add 250,000 sf of warehouse and distribution space onto the HQ building at 2750 Regent Blvd. plus build a 75,000-sf structure at the northern end of the tract. The plan calls for a January 2007 delivery.

In early April, Aviall started to lay groundwork for the expansion on airport-leased land near the intersection of Interstate 635 and North Royal lane. The existing lease runs until 2020, with extensions embedded into it. According to this morning’s press release, the company’s six consecutive years of record sales sparked the expansion plan. Last year’s sales were $1.29 billion, representing an 11% increase in one year.

The addition and new building are climate-controlled designs with energy-efficient lighting and remote sensors. The overall project includes room for training, sales, technology and extra parking. The project will top $13 million without all the extra bells and whistles, based on today’s average construction cost in the region.

In May, Aviall and Boeing announced a definitive merger agreement, expected to close in Q3. The terms, at the time, were $48 per share and the assumption of $350 million in debt. After the merger, Aviall will report to Boeing Commercial Aviation Services and operate as a wholly owned subsidiary.

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?

 

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
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.