Logistics Property Co. Signs 1.1 Million Square Foot Lease with Iconic American CPG Manufacturer
April 15, 2019
Southport Logistics Park continues to spread LPC’s footprint in the transportation hub of North America
Dallas, April 16, 2019 – Logistics Property Company, LLC (LPC), a logistics real estate platform focused on the acquisition, development and management of state-of-the-art logistics properties in key North American markets, today announces its continued success and growth in the Dallas market with a 1.1 million square foot lease at Southport Logistics Park (Southport), a 252-acre master-planned logistics destination within the South Dallas submarket of Dallas-Fort Worth, TX.
At full build-out, Southport will house over 3.55 million square feet of Class-A industrial space comprising four buildings:
- 400,000 square foot cross-docked facility fully leased to an operating subsidiary of a Fortune 100 eCommerce retailer;
- 1.1 million square foot cross-docked facility fully leased to an iconic American consumer packaged goods (CPG) manufacturer;
- 1.2 million square foot speculative build-to-suit; and
- 850,000 square foot speculative build-to-suit.
“We’re excited to announce Southport Logistics Park’s first two state-of-the-art logistics facilities are now 100 percent leased,” said Kent Newsom, LPC’s Executive Vice President – South Region. CBRE’s Dallas-Fort Worth heavy hitters, Kacy Jones, Senior Vice President, CBRE, and John Hendricks, Vice President, CBRE, represented the landlord in the brokerage of the 1.1 million square foot industrial building located at 1200 Fulghum Road.
“We have had the opportunity to work with our client on many projects over the years. They are an amazing group that executes a strategy within prescribed parameters allowing us to be a good partner,” said Ms. Reich. “In addition, LPC was responsive and collaborative from financial structure to construction modifications and lease negotiations.”
This lease represents a win-win-win for LPC, its brokers, and its tenant. It also underpins LPC’s values, known as our DNA. Expertise, diligence, and value are the operating philosophies that guide our internal conduct as well as relationships with our customers, partners, and shareholders.
Less than 48 hours from every major market in North America, with four major interstates, three major railroads, Dallas is where all roads lead from, the perfect logistics and manufacturing center for all types of operations, big or small, according to the City of Dallas Office of Economic Development. LPC anticipates closing on additional properties in Pennsylvania, Texas, the Midwest and the Pacific Northwest in the near term, as part of a development pipeline of approximately 20 million square feet. The company is targeting leading industrial markets across the U.S. with strong population demographics and significant in-place infrastructure.