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Construction Underway On Nine Million-SF Southport Logistics Park

Port Logistics Realty Breaks Ground on $500 Million Industrial Development in Greater Dallas
July 7, 2015
Port Logistics Realty (PLR), a Dallas-based national real estate platform controlled by CT Realty and Xebec Realty, broke ground on Phase 1 of the nine million-square-foot Southport Logistics Park being developed within the Inland Port area of Wilmer, TX.

The project is a joint venture between PLR and wholly-owned Mitsubishi Corp. subsidiary, Diamond Realty Investments (DRI). In Phase 1, the pair will invest $22 million towards infrastructure, which will include a 2.5-mile interior road system, subsurface utilities, underground electrical distribution and a self-contained water distribution system with an elevated water tower.

Concurrently, PLR will develop five buildings that will total more than 3.8 million square feet of industrial space. The first two buildings will measure 1.1 million square feet and 400,000 square feet, and are slated to deliver in Q3 2016.

Upon full build-out, the $500 million Southport Logistics Park will feature nine buildings ranging from 400,000 to 1.5 million square feet that can accommodate some of the largest users of distribution, logistics and e-commerce space in the world.

"We are investing in an infrastructure project that is unparalleled in scope and quality and will be a meaningful differentiator within the Inland Port area of south Dallas. This, combined with our Class A buildings and premier park amenities, positions Southport Logistics Park to satisfy the distribution needs of Fortune 1000 companies doing business here," said Rob Huthnance, president of PLR Development.

Southport Logistics Center is located roughly 10 miles south of downtown Dallas on the opposite side of I-45 from Union Pacific’s Dallas Intermodal Terminal and in close proximity to the second largest FedEx hub in the U.S., two facilities that Randy Kendrick, CEO of PLR and owner of Xebec Realty, states will provide critical pieces of global supply chain infrastructure that offer a tremendous transportation cost advantage to Southport Logistics Park logistics and e-commerce users.

Val Achtemeier, Josh McArtor and Ryan Thornton of CBRE, in collaboration with James Scott of CBRE Capital Advisors, headed up capital markets efforts and arranged the PLR/DRI joint venture. Cornerstone Real Estate Advisers, on behalf of a Cornerstone-managed fund, participated in the capital structure of Phase I. Kacy Jones and John Hendricks of CBRE have been tapped to handle leasing on behalf of ownership.
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