April 02, 2018
DALLAS – Transwestern today announces Tellworks Communications has signed a new lease for 722,733 square feet of industrial space at Park 20/360 at 4101 Research Blvd. in Arlington, Texas. The firm will fully occupy Building 1 at the industrial park. Transwestern Principal John Brewer and Vice President Joe Rudd represented the landlord, a partnership between Ridge and Invesco Real Estate, a global real estate investment manager, in the transaction.
“Tellworks operates facilities in 42 states, but the new warehouse in Arlington is our first super hub,” said Christo Makrides, Tellworks Managing Partner. “This facility will allow Tellworks to better service our telecommunication customers."
CBRE Senior Vice President Ryan Keiser represented the tenant.
Other recent lease transactions at Park 20/360 include:
· Baker Distributing Co., a wholesale HVAC supplier, leased 83,634 square feet in Building 5. Jordan Christensen, principal at Tenant Real Estate Advisors, represented Baker in the transaction.
· OmniSource Inc., a regional wholesale tire distributor, leased 71,534 square feet in Building 3. Senior Vice President Mark Scott of Foundry Commercial and Barrett Bufkin, Transaction Specialist at esrp, represented OmniSource.
· Summit Midstream Partners, an energy infrastructure company, leased 23,609 square feet in Building 4 in a direct transaction with Ridge.
“Park 20/360’s location in the Great Southwest (GSW) submarket is highly desired due to its central location in the Metroplex, its proximity to Dallas/Fort Worth International Airport and its outstanding highway infrastructure,” said Brewer. “This submarket has led DFW in industrial absorption and new construction in this historic real estate cycle.”
Delivery of the four buildings in Phase 1 at Park 20/360 began in November 2017 and finalized in January 2018, with leases already signed for 71 percent of its 1.26 million square feet. Phase 2 construction is imminent and will provide an additional 360,000 square feet across four buildings.
“The vision for Park 20/360 has developed into a much-needed, state-of-the-art addition to the 100 million-square-foot GSW industrial district,” said Rudd. “It is extremely rewarding to see what was a dream 3 ½ years ago become a reality.”
Park 20/360 is a 1.6 million-square-foot industrial park on a 119-acre campus at the northwest corner of Interstate 20 and State Highway 360. Located inside a Triple Freeport Tax Exemption zone and within the Great Southwest Industrial District, the property lends itself to local, regional and national users. The property is approximately 11 miles south of the Dallas-Fort Worth International Airport and is in close proximity to the Arlington Highlands Lifestyle Center, AT&T Stadium and Globe Life Park in Arlington.
Ridge, the industrial arm of Transwestern Development Co., is a leading provider of corporate real estate development and investment in state-of-the-art warehouse, distribution and manufacturing facilities throughout North America. Ridge’s principals have been involved in the development, construction, ownership and management of more than 125 million square feet of institutional-quality real estate and have an average 25 years of experience in the real estate industry. Ridge is based in Chicago, with regional offices across the U.S. in Atlanta, Dallas, Los Angeles, Houston and Harrisburg, Pennsylvania.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the North Texas region, follow @TranswesternDLS and @TranswesternFTW.
ABOUT INVESCO REAL ESTATE
Invesco Real Estate is a global leader in the real estate investment management business with $66.4 billion in real estate assets under management, 471 employees and 21 regional offices across the U.S., Europe and Asia (as of 12/31/17). Invesco Real Estate has been actively investing in core, value-add and opportunistic real estate strategies since 1992. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; www.invesco.com.