Copeland Commercial LLC received $40 million in equity for the development of the DFW Commerce Center, a 1 million-square-foot Class A industrial property located on Dallas/Fort Worth International Airport’s land in Irving, Texas. HFF arranged the funding.
DFW Commerce Center will consist of four buildings totaling 2.8 million square feet. Plans for phase 1 include a cross dock distribution and warehouse building that will offer 40-foot clear heights, 184 dock doors designed for light to heavy distribution, with significant overflow parking to accommodate e-commerce users.
The project will be situated at the intersection of West Walnut Hill Lane and East Airfield Drive on 57.8 acres on the DFW Airport land, subject to a 40-year ground lease. Just south of the main airport taxiway, the center will be less than two miles north of West Airport Freeway and one mile west of Texas 161.
The HFF team included Executive Managing Director Joe Thornton, Jr., Managing Director Adam Herrin and Director Stephen Bailey.
Copeland Commercial has a development track record that includes 210 buildings, 41.2 million square feet and $2 billion in gross asset value.
SOURCE: Commercial Property Executive