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88,200-SF Prelease Seeds 243,500-SF Development

DALLAS-TCC and Kennedy Associates are under way with Trade Center IV, a spec plan that gets off the ground thanks to Valeo Compressor. The cross-dock delivers by October.

By Connie Gore | Updated on June 26, 2008

DALLAS-Trammell Crow Co. has pulled the trigger on a 243,500-sf industrial building, plated as spec and now rising with an 88,200-sf tenant in tow. International Trade Center IV, penciled to be done by October, is part of a 1.7-million-sf stake in Dallas/Fort Worth International Airport’s International Commerce Park.

The catalyst to start work was a long-term lease from Valeo Compressor North America, a division of Paris-based Valeo Group. Scott Krikorian, managing director for TCC in Dallas, says Valeo needed to expand its footprint at Dallas/Fort Worth International Airport, but was unable to do so at its existing location, 1100 N. 28th Ave. The deal was in the market five months, with most airport-land developers in pursuit. “I think they definitely looked all over the airport,” he says.

TCC has pulled 16 acres from its land bank for Trade Center IV, which will be visible from Texas 114 at the airport’s northern entrance. Seattle-based Kennedy Associates Real Estate Counsel LP and TCC started the Trade Center project in 2006 with nearly 64 acres and have been adding steadily since then. TCC still has a 25-acre site to develop before it exhausts its in-hand airport options. Krikorian says one-million sf of the 1.7-million sf has been filled to date.

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