DCT® Featured in BizJournals.com: Growing logistics firm expands operations near DFW Airport
By landing the third-party logistics provider, DCT Industrial has roughly leased half of the newly delivered facility.
Third-party logistics provider AIT Worldwide Logistics Inc. plans to expand its North Texas operations near Dallas-Fort Worth International Airport.
The Ithaca, Illinois-based transportation management company signed a lease for 54,000 square feet of industrial space at DCT DFW Trade Center at 4301 Patriot Drive in Coppell, which is a short drive to the region’s big international airport.
“They are expanding to DCT DFW Trade Center from an existing facility as the region continues to add more consumers to Dallas-Fort Worth,” Art Barkley, a senior vice president at DCT Industrial’s North Texas operations, told the Dallas Business Journal, in an exclusive interview.
“They are relocating in the region and doubling their footprint to keep up with all the people moving here,” Barkley added, saying the third-party logistics provider specializes in consumer goods.
AIT Worldwide will soon move from its existing facility in Grapevine to the 113,000-square-foot facility, taking its occupancy to nearly 48 percent. DCT Industrial is quoting $6.50 per square foot, triple net.
Barkley said lease rates have increased by about 50 percent in the last five years as the region continues to add consumers and residents to North Texas. The Dallas-Fort Worth International Airport submarket is also one of the tightest submarkets for logistics firms in the region, he said.
“We are delivering new buildings with more modern amenities in a super tight submarket as building costs continue going up,” he added. “And I would argue logistics companies are some of our biggest consumers of new space, now.”
Denver-based DCT Industrial also has two additional distribution facilities nearby under construction with expected completion in July. The new buildings sit near Amazon.com’s massive distribution facilities.
“This corridor is really changing with Amazon’s two 1 million-square-foot buildings, and the neighborhood has really started to change,” Barkley previously told the DBJ.
“This corridor has become distribution central,” he added. “There are a number of ways in and out of that neighborhood with great access to Interstate 635 and State Highway 121.”
Barkley said he’s seen a quick lease-up window on Class A distribution facilities in this corridor, with projects becoming fully leased within six to nine months of completion. He said he doesn’t expect that to change this year.
“I think 2018 will be a strong year for Dallas, especially with the changes to the tax code, and companies will have more disposable income this year,” he added. “I think it will be another great year in Dallas-Fort Worth.”Back to all stories