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Dallas industrial market continues historic trend
Dallas, November 15, 2017 – JLL announced today the firm has successfully negotiated a new 164,419 square foot industrial lease on behalf of Zobele Group. The multinational product development and manufacturing company is positioned to open its first North Texas facility at 3502 Regency Crest Drive in Garland, Texas.
JLL's Managing Director Terry Darrow and Vice President Chris Stout represented the tenant. Stream's Ryan Wolcott represented the owner, Stag Texas Holdings. JLL's Project and Development Services team, led by Managing Director Lee Hansen and Senior Vice President Tony Linker, has been tabbed to lead development of the asset.
"Zobele is strategically placed to increase efficiency and client satisfaction with the addition of their new Dallas operation," said Darrow. "The magnitude of growth we've seen locally and the long-term benefits of being centrally located were driving factors in establishing a definitive presence in North Texas. This hub will be an incredible benefit to their clients and the company."
Dallas' industrial market remains below its historic vacancy numbers at 7.3% in 2017 with 12.9 million square feet of absorption through Q3, according to JLL Research.
Zobele is expected to move in Q2 2018
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.
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