JLL arranges financing for Dallas industrial center development
Perot Development Company and Invesco Real Estate are developing DFW Park 161 industrial center
DALLAS, May 13, 2020 – JLL Capital Markets announced today that it has arranged equity and construction financing for DFW Park 161, a Class A+ industrial park that will eventually total more than 2.4 million square feet at the Dallas-Fort Worth International Airport in Irving, Texas.
JLL worked on behalf of Perot Development Company to arrange the partnership with Invesco Real Estate, a global real estate investment manager. Additionally, working on behalf of the partnership, JLL arranged a five-year construction loan.
Situated on 196 acres at 5150 State Hwy 161, the DFW Park 161 site is at the east end of Dallas Fort Worth (DFW) International Airport fronting the President George Bush Turnpike and within the E DFW Airport / Las Colinas submarket. The site also adjoins the Dallas Area Rapid Transit (DART) Orange Line and is directly across the freeway from the DART Belt Line Station. Designed by Halff Associates, DFW Park 161 will consist of a four-building, highly efficient, Class A+ industrial business park. The project will be developed in phases and feature cross-dock buildings that have between 32- and 40-foot clear heights, 121 bays, 383 trailer parks and wide column spacing.
The JLL Capital Markets team representing the developer was led by Director Stephen Bailey, Managing Director Dustin Volz and Senior Managing Director John Rose.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Perot Development Company
Perot Development Company is a full-service real estate company that is responsible for the construction/development, leasing and management of their facilities. Perot Development specializes in the development of air cargo and warehouse/distribution facilities at major airports in the U.S. Major developments include Logistics Centers I-V and 6-11, Aviall headquarters, Dallas Airmotive Aircraft Engine Repair & Test Facility, Schenker Logistics/BAX Global logistics facility and Life Science Logistics distribution center, all at DFW International Airport, and the UPS regional gateway hub at Houston Intercontinental Airport. For more information, visit perotdevelopment.com.