Another large warehouse rental has filled a new industrial building in south Dallas County.
Logistics Property Co. has leased all of its more than 1 million square feet of Southport Logistics Park Building 3 in Wilmer.
The massive distribution building is located at 1300 Fulghum Road, near Interstate 45.
Developer Logistics Property in its lease notice did not identify the tenant, but said it was an American multinational corporation in the business of “footwear, apparel, equipment, accessories and services.”
Dallas County previously provided financial incentives in the form of property tax reductions to Nike USA Inc. at the same address.
“Nike would upgrade the custom-built facility to serve as a major distribution fulfillment center,” according to Dallas County documents related to the tax breaks. “The project would create and maintain 500 new jobs at an average wage of $37,000, which is about $7,000 more than most wages in the Inner Harbor.
“In addition, this project will increase the county’s tax base by at least $60 million.”
The county approved the $68,000 annual tax break in November.
The Southport Logistics Center building is part of a 3.55-million-square-foot, 252-acre business park that the Logistics Property is building near the Union Pacific Railroad’s South Dallas County intermodal depot on I-45.
“Logistics Property Company is pleased to welcome our new tenant to Southport,” Max Mueller, the firm’s vice president, said in a statement. “We have no doubt that they are in good company along with their high-calibre corporate neighbors in our fast-growing industrial park.”
Kacy Jones, John Hendricks, Seth Kelly and Dan Estes of CBRE Group negotiated the lease with Nathan Lawrence.
“Within 48 hours of all major North American markets, it is the perfect manufacturing and logistics center for all types of operations, large or small,” said Jones.
Logistics Property is currently building a fourth phase of a 620,000 square foot warehouse in the Wilmer Business Park.
The Dallas-Fort Worth area is the nation’s fastest growing industrial building market with more than 80 million square feet of space under development.
In 2022 the D-FW area recorded six industrial leases of 1 million square feet or more according to CBRE.