Dallas-based Lincoln Property Company broke ground on a more than 312,000-square-foot industrial park near Love Field.The project, Brookhollow Business...
The project, Brookhollow Business Center, is the redevelopment of a 17-acre truck terminal facility on Empire Central Drive that will feature two new Class A industrial buildings.Lincoln did not reveal costs for the project. However, filings with the Texas Department of Licensing and Regulation show estimated construction costs of roughly $24 million.
“Light industrial, shallow-bay properties like Brookhollow offer the greatest opportunity to meet the current market demand, as well as benefit from the sustained rent growth seen in the DFW industrial market, which is a result of a limited supply and lack of new construction in this segment of the market,” Michael Peinado, Senior Vice President at Lincoln, said in a statement.
D-FW had 16 million square feet under construction at the end of Q3 — a 71% decline year-over-year, according to the report.Pepperidge Farms, Allstate and others signed leases for D-FW area offices. More than half a million square feet of office space has been leased recently.Nick is a real estate reporter for the Dallas Morning News. He previously worked as a digital investigative reporter at 11Alive, Atlanta's NBC affiliate.
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