Thriving Economy and Key Location Warrant Spec Build

Park 20/360 is a 1.6 million-square-foot spec industrial park soon to get underway.

ARLINGTON, TX—Record-setting occupancy and a booming economy are driving continued growth in the industrial market. With that in mind, a 119-acre industrial park project owned by a venture between Invesco and Ridge Development is soon to break ground. During second quarter 2016, Ridge Development, the industrial development arm of Transwestern Development Co. will begin construction on Park 20/360 , a speculative 1.6 million-square-foot park at the northwest corner of Interstate 20 and State Highway 360. This location feeds into the Great Southwest Industrial District , one of the largest individually platted industrial districts within the US, and lends itself to local, regional and national users. “The confluence of a thriving Texas economy with continuing solid fundamentals, record-setting occupancy within the Great Southwest Industrial District, a diverse commercial make-up in Dallas-Fort Worth and an outstanding location warrant the development of such a large project on a speculative basis,” said Kent Newsom , executive vice president at Ridge Development. “Park 20/360 is divided into three different types of space to accommodate multiple industrial user types including bulk distribution, warehouse and flex.” Phase I will consist of four buildings totaling nearly 1.25 million square feet and is expected to deliver in first-quarter 2017. Phase II, also comprising four buildings, will total 356,060 square feet. It is scheduled to break ground in third quarter 2017 with full delivery expected in second-quarter 2018. Newsom tells GlobeSt.com: “As a gateway location in the midcities, Park 20/360 offers convenient service to customers in both Dallas and Fort Worth, as well as the rest of the US population, making it a highly desirable site. Industrial absorption in the Dallas-Fort Worth area is at an all-time high and we anticipate the economy will continue expanding for the foreseeable future. We expect all these factors to drive considerable interest in Park 20/360 from a wide variety of businesses.” The Park 20/360 site is located inside a Triple Freeport Tax Exemption zone and is a gateway location within the Great Southwest Industrial District, which consists of more than 100 million square feet of distribution and manufacturing space. The site is approximately 18 miles from the Dallas-Fort Worth International Airport and is in close proximity to the Arlington Highlands lifestyle center, AT&T Stadium and Globe Life Park . Transwestern’s vice president Joe Rudd and principal John Brewer are providing leasing services. Park 20/360′s buildings will accommodate users from 20,000  to 715,000 square feet. The building breakdown is as follows: Building I (Phase I)–cross-dock building totaling 711,360 square feet with 36-foot clear heights, 284 parking spaces and 180 trailer parking spaces; Building II (Phase II)–rear-load building totaling 127,140 square feet with 32-foot clear heights, 111 parking spaces and 23 trailer parking spaces; Building III (Phase I)–rear-load building totaling 203,320 square feet with 32-foot clear heights and 231 parking spaces; Building IV (Phase I)–rear-load building totaling 191,360 square feet with 32-foot clear heights and 224 parking spaces; Building V (Phase I)–front-load building totaling 143,520 square feet with 32-foot clear heights, 186 parking spaces and 28 trailer parking spaces; Building VI (Phase II)–rear-load building totaling 143,530 square feet with 32-foot clear heights and 148 parking spaces; Building VII (Phase II)–single-user building totaling 36,000 square feet with 32-foot clear heights and 58 parking spaces; and Building VIII (Phase II)–single-user building totaling 49,400 square feet with 32-foot clear heights and 59 parking spaces. The architect is Alliance Architects Inc. , the civil engineering firm is Pacheco Koch Consulting Engineers Inc. , and the geotechnical and environmental firm is Professional Services Industries Inc.