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DALLAS-Cousins Properties Inc. and Seefried Properties Inc., both Atlanta-based companies, have hit the bulls eye in preleasing 355,000 sf of new bulk distribution space at their under-construction 750,000-sf first building at Lakeside Ranch Business Park just outside Dallas city limits. Two separate buildings are planned for a total 1.7 million sf of industrial space.

Home Depot Supply of San Diego is the tenant. Officials at Cousins and Seefried declined to disclose lease terms. However, area industrial brokers familiar with the property and the Flower Mound submarket where the park is being built, tell GlobeSt.com the estimated length of the lease is at least 10 years at an estimated gross rent of $4 per sf. That would make the estimated value of the transaction $14 million.

The transaction "exceeds our already high expectations" for the park's success, says Forrest Robinson, president of Cousins' Industrial Division. "Every partnership should begin this way."