Newly completed Dallas-Fort Worth industrial building finds new owner
JLL Capital Markets closed the sale of DFW Park 161 AMZL, a fully leased distribution center in Irving, TX
DALLAS, September 13, 2022 – JLL Capital Markets announced today that it has closed the sale of DFW Park 161 AMZL, a fully leased Class A distribution center totaling 219,000 square feet at the Dallas-Fort Worth International Airport in Irving, Texas.
JLL represented the seller, a joint venture between Invesco Real Estate and Perot Development Company.
Completed in early 2022, the 250’ x 875’ building was built-to-suit for Amazon as a last-mile distribution center. DFW Park 161 AMZL features 9.3% office finishes, 32’ clear height, 17 dock high doors, 18 drive-in doors, 27 trailer parking spots and 1,440 parking spaces.
DFW Park 161 AMZL is located on 55.768 acres of airport land at 3100 State Highway 161, within the master-planned DFW Park 161, just east of Dallas-Fort Worth International Airport and within the DFW Airport Industrial submarket, one of the most desirable industrial submarkets in the region. The property is along State Highway 161, which is one of the area’s main north and south transportation arteries and carries more than 123,000 vehicles per day. In addition to the ability to easily reach the entire DFW metro area quickly, the property has connectivity to the Texas Triangle, the area between DFW, Houston, San Antonio and Austin that houses 25 million residents, which is expected to grow to house 78% of the state’s population within the next 40 years. With $1.32 trillion in economic output, this area ranks among the world’s 15 largest economies.
The JLL Capital Markets team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Directors Dom Espinosa and Zach Riebe and Analyst Jack Copher.
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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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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 $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $92.0 billion in real estate assets under management, 592 employees and 21 regional offices across the U.S., Europe and Asia (as of March 31, 2022). Invesco Real Estate was established in 1983 and today invests across the risk return spectrum, from core to opportunistic; in equity and debt; listed and direct; locally and globally. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; http://www.invesco.com.
About Perot Development Company
Perot Development Company is headquartered in Dallas, Texas and has been developing industrial projects for more than 21 years totaling approximately 8.0 million square feet. Perot Development Company specializes in industrial build-to-suit and speculative project development in the areas of global e-commerce fulfillment, air cargo and logistics, warehouse/distribution and air freight forwarder facilities at DFW International Airport and George Bush Intercontinental Airport/Houston. www.perotdevelopment.com