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Stream Realty, LaSalle Team Up on New Speculative Distribution Project in DFW

New Distribution Hub to Deliver by Year-End
May 8, 2018
In a joint venture with LaSalle Investment Management, Dallas-based Stream Realty Partners has begun construction on a new distribution hub in Grand Prairie, TX, before it has signed up any tenants.

The 271,794-square-foot industrial development, called Parkway Logistics Center, recently got started at 2911 S. Great Southwest Pky. in an area of North Texas known as the Great Southwest. The soon-to-be built, speculative distribution hub will sit adjacent to the Grand Prairie Municipal Airport and has easy access to major highways and interstates.

Construction on the Class A industrial facility is slated for delivery by the end of the year.

Upon completion, the Parkway Logistics Center can be divided into units as small as 50,000 square feet with parking for up to 69 trailers and more than 100 vehicles. Plans also include 44 dock-high loading bays.

LaSalle Investment Management acquired its share of the partnership in February 2018. The terms were not disclosed.

Todd Noonan, a senior vice president for Dallas-based Stream Realty Partners, represented the undisclosed seller in the land deal. Cannon Green and Luke Davis of Stream Realty Partners represented the buyer, LaSalle Investment Management, in the deal.

The so-called infill site appealed to the LaSalle development team, which is one of Stream Realty's biggest clients in North Texas, said Green, a managing director and partner at the Dallas brokerage firm.

Green added he's confident that demand will remain robust in Great Southwest, an area that has been the beneficiary of a few speculative industrial projects, including Jackson-Shaw's latest North Texas project and Liberty Property Trust's next phase of an industrial office park.

Candace Carlisle, Dallas-Fort Worth Reporter  CoStar Group   
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