Plans to Expand Presence in Market through Additional Investment
DALLAS — Dermody Properties, a national industrial real estate owner-operator headquartered in Reno, Nev., recently announced the acquisition of a 60.2-acre site at Bonnie View Rd. and Telephone Rd. in Dallas, Texas. The site will be home to a two-phase, 1.1-million-square-foot industrial development, known as LogistiCenter(SM) at Dallas. Phase 1 includes a 622,440-square-foot-distribution center that is expandable to more than 1.1 million square feet. If the Phase 1 building is not expanded, a Phase 2 building totaling 444,600 square feet will be developed.
“We are pleased to have acquired this excellent site and look forward to developing these best-in-class facilities in Dallas,” said Patrick Gallagher, Partner, Dermody Properties Southwest Region Office. “Dallas is a highly desirable market, and the south Dallas submarket is one of the fastest growing markets in the Metroplex. We will continue to seek out opportunities to expand the Dermody Properties portfolio in the region through acquisitions of existing buildings and new development.”
Dermody Properties will start construction on LogistiCenter at Dallas in the summer of 2016 and expects to complete construction in early 2017. The facilities will feature 36 feet of clear height, abundant auto and trailer parking, skylights and state-of-the-art LED lighting systems.
LogistiCenter at Dallas is a modern bulk distribution center ideal for local, regional and national operations, especially for e-commerce companies. The facility is conveniently located less than one mile from the I-20 interchange on Bonnie View Rd., with easy access to Interstate 35, Interstate 30, and State Highway 360.
“When we select sites and develop facilities for inventory, such as LogistiCenter at Dallas, our team strategically seeks out sites in markets with high demand drivers” said Douglas A. Kiersey, Jr., President, Dermody Properties. “We believe there will continue to be great demand for e-commerce compliant facilities in Dallas and look forward to making further investments in the market.”
Dave Anderson, Vice Chairman of CBRE represented Dermody in the acquisition of the land and will be responsible for the leasing of the project.
About Dermody Properties
Dermody Properties is a privately owned industrial real estate investment, development and management firm, founded in 1960. The firm specializes in acquisitions and development of industrial real estate in strategic locations for Internet fulfillment centers, distribution, third party logistics, food packaging and distribution. To learn more about Dermody Properties visit Dermody.com.