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IRVING, TX-Proterra Properties Inc., with a 109,200-sf prelease in hand, has broken ground on two more buildings for Valley View Business Center. The 555,560-sf mix of mostly spec space will add more than $20 million of build-out value to the 73-acre park near Dallas/Fort Worth International Airport.

The 140,600-sf Valley View I, planned for 7.5 acres at 5385 FAA Blvd., is a front-park, front-load with 28-foot clear heights. The 414,960-sf Valley View IV, which will sit on 22.5 acres at 1401 Valley View Lane, is a cross-dock design with 80 doors, 30-foot clear heights and one-third of its space committed to Omega Environmental Technologies Inc., a Dallas-based supplier of vehicle air conditioning parts.

Omega’s lease was inked in late spring, long before Proterra could finalize the park’s expansion plan and fine-tune the final designs for the spec and build-to-suit space, according to Daniel H. Lawson, marketing director for the Dallas-based development company. Omega now operates in roughly 60,000 sf at 10802 N. Stemmons Frwy. in Dallas.

Lawson tells GlobeSt.com that construction needed to get underway because the park’s built space was nearing full and inquiries were rolling in for 200,000-sf blocks. “We didn’t have any buildings that big so we could at least be in the hunt,” he says. Further fueling the decision, Valley View II and Valley View III, totaling 206,874 sf at 5325 and 5375 FAA Blvd., respectively, have topped 90% occupancy with four tenants lighting spaces and fifth one putting finishing touches on a lease.

The new buildings, not yet ready to go vertical, will deliver in early first quarter 2009. Halff Associates Inc. of Dallas is the project architect; CD Henderson Construction Group LLC of Garland, TX, is the general contractor.

Lawson says the tenant hunt is aimed at 40,000 sf or larger. The new space’s quoted rate is $3.40 per sf, triple net with negotiable tenant-improvement allowances.

Proterra is down to a three-acre tract at the corner of Valley View Lane and County Line Road, which could end up as additional parking if needed, and a 10-acre site fronting County Line Rd. Proterra staked its land position several years ago before Texas 161 was completed.

“We just felt the location was very good. Once 161 was finished, it would have great access east, west, north, south and all across town as well as to the airport,” Lawson says.

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