SUBMARKET INTELLIGENCE NORTHEAST/EAST DALLAS
HLC OUTLOOK The Northeast/East Dallas submarket has performed extremely well to start off 2021. We have seen a drastic increase in activity, tenant optimism, and deals closing. This is evidenced by the market having it’s best net absorption (1.6M SF) since 3Q 2018. Capital Markets are reacting and have become even more aggressive believing there. With undeveloped infill sites becoming more scarce, developers are turning eyes to available land in more outlying markets such as Forney and Terrell which we are currently tracking over 8M SF of spec industrial development in the planning stages. JOSH BARNES
BEN WALLACE
Senior Vice President jbarnes@holtlunsford.com 972.280.8353
Market Director bwallace@holtlunsford.com 972.421.1966
TOP LEASE TRANSACTIONS • FB Flurry signed a 472,200 SF lease at 3737 W Miller Road with Clarion Partners.
Absorption
vs. Prev. Qtr
vs. 12 Mths Ago
1,592,004
(214,878)
396,080
Vacancy
vs. Prev. Qtr
vs. 12 Mths Ago
7.0%
7.2%
7.3%
Leasing Act.
vs. Prev. Qtr
vs. 12 Mths Ago
Kearney with Dalfen Industrial.
• Elements International signed a 177,473 SF lease at Republic Parkway – Building 1 with Urban Logistics.
1,398,452
2,237,605
927,475
vs. Prev. Qtr
vs. 12 Mths Ago
• Lasco Fittings signed a 83,068 SF lease at 3800 Leon Road with IDI Logistics.
392,672
1,915,282
1,032,628
Delivered SF
vs. Prev. Qtr
vs. 12 Mths Ago
198,109
• Barrett Distribution expanded into a total of 264,965 SF at 3800 Leon Road with IDI Logistics.
U/C SF
1,522,610
• Steve Silver signed a 407,195 SF lease at 1440 E
• Collier Metal Specialties signed a 80K SF renewal at 3353 S Miller Park Drive with Clarion Partners.
0
• ICON EV expanded into a total of 77,143 SF at
HLC Deal
10350 Brockwood with Cabot.
VITAL STATS
9.0%
• ATC Transportation signed a 75,676 SF lease at 1,800,000
8.0%
1,550,000
7.0%
1,300,000 6.0% 1,050,000 5.0%
800,000
4.0%
550,000
3.0%
300,000
2.0%
50,000
1.0%
(200,000)
0.0%
(450,000) 1Q 18
2Q 18
3Q 18
Absorption
4Q 18
1Q 19
2Q 19
3Q 19
4Q 19
Deliveries
1Q 20
2Q 20
3Q 20
4Q 20
1Q 21
Vacancy
Source: CoStar 1Q 2021 Industrial Report
12
12750 Perimeter Drive with DRA Advisors.
• Parsens Global signed a 59,132 SF lease at 11441 Hillguard with Prologis.
• Optex Systems signed a 44,867 SF lease at 9827 Chartwell with DRA Advisors.
• ProBuilt Tools signed a 42,558 SF lease at 4002 W Miller with Barings.
• API Systems signed a 37,252 SF renewal at 10575 Vista Park Circle with DRA Advisors.
DEALS IN THE MARKET • Urban District 30 – a 980,700 SF five (5) building spec project with Urban Logistics Realty is Under Contract. • Skyline Commerce Center – a 198,109 SF two (2) building spec project with Connor Commercial is Under Contract.
NEW DEVELOPMENTS • Urban District 30 – a 980,700 SF five (5) building spec project with Urban Logistics Realty
• East Dallas Logistics Center – a 545,547 SF two (2) building spec project with Dalfen
• East Dallas Commerce Center – a 373,322 SF spec development with IDI Logistics
• Sunnyvale Business Center - a 643,760 SF spec development with Langford Properties
LARGE EXISTING VACANCIES • 1440 E Kearney Street – 407,195 SF • 1201 Big Town Boulevard – 208,750 SF • 1455 Republic Parkway – 169,924 SF • 1465 IH30 – 158,701 SF • 2610 McCree Road – 152,139 SF • 12019 Corporate – 144,824 SF • 4401 Samuell Boulevard – 143,801 SF • 1801 S Shiloh – 131,960 SF