4Q 2021 DFW Industrial Market Brief

Market Brief...

Dallas/Fort Worth

INDUSTRIAL

4Q2021 Property Pictured Above: Vista Point North, 405 State Highway Bypass

TABLE OF CONTENTS 1. DALLAS/FORT WORTH INDUSTRIAL SUBMARKETS & EXPERTS

1 2 3

2. OVERALL DALLAS/FORT WORTH INDUSTRIAL MARKET A. Industrial Trends & Transactions B. Facts and Figures

2. SUBMARKET INTELLIGENCE A. B. C. D. E. F. G. H. I.

Great Southwest/Arlington DFW Airport Northeast/East Dallas Far Northeast Dallas Northwest Dallas South Dallas South Stemmons North Fort Worth South Fort Worth

3

McKINNEY PONDER

P

FRISCO

NORTHWEST DALLAS 7,194,737 SF

JUSTIN

BOYD

ALLEN

THE COLONY

FAR NORTHEAST DALLAS 5,020,352 SF PLANO

LEWISVILLE FLOWER MOUND

HLC SUBMARKET COVERAGE

ROANOKE

COPPELL

ADDISON

GRAPEVINE

RICHARDSON

DFW ALEDO

CARROLLTON

HASLET

NORTH FORT WORTH 5,665,929 SF

KELLER

SOUTHLAKE

DFW AIRPORT 2,257,984 SF

FARMERS BRANCH

DFW INTERNATIONAL AIRPORT

GARLAND

LAS COLINAS

COLLEYVILLE

FORT WORTH MEACHAM INTERNATIONAL AIRPORT

DALLAS LOVE FIELD

BEDFORD

RICHLAND HILLS

HURST

NORTHEAST/EAST DALLAS 7,185,360 SF

IRVING

EULESS

DALLAS

SOUTH STEMMONS 2,563,484 SF

SUNNYVALE MESQUITE

FORT WORTH

GREAT SW/ARLINGTON 3,448,035 SF ARLINGTON

DALLAS EXECUTIVE AIRPORT

GRAND PRAIRIE

BENBROOK

DUNCANVILLE

LANCASTER

SOUTH FORT WORTH 7,678,661 SF DESOTO CEDAR HILL

RENDON

SOUTH DALLAS 5,620,902 SF

MANSFIELD CRESSON

BURELSON

5

5 MIDLOTHIAN

HLC DFW INDUSTRIAL MARKET EXPERTS

MATT CARTHEY

CANON SHOULTS

JOHN GORMAN

JOSH BARNES

ANDREW GILBERT

GEORGE JENNINGS

THOMAS GRAFTON

MADDY CANTY

Partner, Managing Principal mcarthey@holtlunsford.com 817.710.1111

Managing Principal cshoults@holtlunsford.com 972.280.8328

Senior Vice President jgorman@holtlunsford.com 214.920.9800

Senior Vice President jbarnes@holtlunsford.com 972.280.8353

Market Director agilbert@holtlunsford.com 972.280.8312

Market Director gjennings@holtlunsford.com 817.632.6151

Market Director tgrafton@holtlunsford.com 817.632.6152

Market Associate mcanty@holtlunsford.com 972.280.8325

KEATON BRICE

BLAKE TROIANI

WILLIAM WILSON

MITCH CANTWELL

WALKER FLOYD

TREY GOODSPEED

Market Associate kbrice@holtlunsford.com 972.421.1956

Market Associate btroiani@holtlunsford.com 972.265.0126

Market Associate wwilson@holtlunsford.com 817.284.5555

Market Analyst mcantwell@holtlunsford.com 972.265.0133

Market Analyst wfloyd@holtlunsford.com 972.265.0141

Market Analyst tgoodspeed@holtlunsford.com 817.632.6155

7

HLC DFW

HLC OUTLOOK Absorption

vs. Prev. Qtr

9,448,019

9,839,899

6,198,611

Vacancy

vs. Prev. Qtr

vs. 12 Mths Ago

5.3%

5.7%

7.3%

Leasing Act.

vs. Prev. Qtr

vs. 12 Mths Ago

16,354,786

23,261,074

16,968,878

U/C SF

vs. Prev. Qtr

vs. 12 Mths Ago

42,792,001

34,590,907

26,289,055

Delivered SF

vs. Prev. Qtr

vs. 12 Mths Ago

7,358,280

3,037,461

8,107,587

2021 was a record shattering year for the Dallas-Fort Worth industrial market due to the loosening of COVID restrictions and overall changes to supply chain strategies. The increasing need for quick ship delivery has extended to all businesses, not just the e-commerce industry. Talks of safety stock increased demand for industrial space of all shapes & sizes thus allowing rental rates to climb at an unprecedented pace.

The DFW Industrial market built upon a strong 3Q and set a new all-time high watermark with 42.3M SF of net positive absorption.

This shatters the previous net positive absorption record of 25M SF by more than 17M SF. Significant leasing activity in DFW Airport, North Fort Worth and South Dallas have led the charge to allow the overall market vacancy to drop even lower to +/- 5.25% (versus 5.70% at 3Q 2021).

At year-end 2021, absorption significantly outpaced supply even with the delivery of 24.5M SF of new space. The development landscape is at a historic pace with 42.8M SF under construction and new announcements coming soon, pushing the under construction number closer to 50M SF. We are seeing development span to new areas of the metroplex as large entitled industrial sites are becoming more scarce and the institutional demand continues to increase as capital markets flee other product types and follow the increasing demand from industrial occupiers.

As we turn the page to 2022, we expect the overall industrial market will continue strong as many of the large 3PL and e-commerce tenants are hiring and expanding in the DFW market. Additionally, supply chain shortages are driving companies to reevaluate their inventory management practices and many companies are now carrying safety stock. We expect DFW to outperform other parts of the country as it continues to be the biggest benefactor of large-scale relocation efforts and population growth. With no slow down in sight, the Dallas-Fort Worth industrial market will continue to perform at record-setting levels.

8

INDUSTRIAL TRENDS & TRANSACTIONS

vs. 12 Mths Ago

MARKET TRENDS

• The continued expansion of E-Commerce fuels the increased demand for industrial space.

• Supply chain shortages are driving companies to reevaluate their inventory needs and now carry safety stock.

• The DFW Industrial market has returned to pre Covid normalcy with a massive tailwind.

• The increase in tenant demand coupled with the influx of new capital has caused developers to scour the market for new land positions now stretching to new markets like Forney and Denton.

• Industrial development continues at a historic pace to match the demand caused by global supply chain constraints.

TRENDS Need For Speed • More spec offices Desire For Flexibility • Requested expansion options and/or phased in occupancy Drive To Increase Efficiency • Increased parking requirements • Increased demand for high-quality second generation options vs rising rates for new construction Increased Attention On Workforce • Where are they coming from?

• Better work environment (Ex. HVAC Warehouse) TI Requests And Costs Continue To Increase Pre-Leasing Activity Remains Strong

TOP LEASE TRANSACTIONS • Pratt Industries leased 1,108,080 SF from Hillwood on South Highway 67 in Cedar Hill.

• Saddle Creek has signed a 861,840 SF lease at South Fort Worth I-35 Logistics Centre with Clearview Investments, LLC.

• Ryder Logistics leased 800,737 SF from USAA/Seefried at 1305 Cleveland Road off I-20 and I-45.

• Hilti signed a 484,107 SF pre-lease deal at Hines’ Bison Grove development in Lewisville.

• CEVA signed a 419K SF lease at Elizabeth Creek Gateway with LBA Logistics.

• Bell Textron renewed their 406,746 SF lease at 3200 High River Road with Barings.

• Elements signed a 260K SF lease at 5351 Samuell with Prologis.

• Comprehensive Logistics leased 250,080 SF with Hunt Southwest at their new development in Denton on Western Boulevard.

• Williamson-Dickie renewed a 237,500 SF lease at Westport @ Alliance with Hillwood.

• Sherwood Bedding pre-leased 234,395 SF at Billingsley’s new development on Tittle Drive in Lewisville.

• B.I.G. Logistics expanded into 223K SF at 1000 North 28th Avenue north of the DFW Airport with Clarion Partners.

• Shorr Packaging signed a 221,335 SF lease at 975 West Oakdale Road with Crow Holdings Industrial.

• FLEXE, Inc. leased 214,649 SF from TA Realty at 39324 I-20 at Polk Road.

• Amazon (AMZL) leased 206,915 SF from Trammell Crow at 9186 Van Horn Drive off I-20.

• IFF renewed and expanded into 195,679 SF at 1624 West Crosby Road in Valwood with Eastgroup Properties.

• TAGG Logistics signed an expansion for a total of 183,644 SF at 2850 Marquis with Link.

• Transamerican Parts renewed their 165,105 SF lease with LaSalle at 800 West Sandy Lake in Coppell.

• Fowling Warehouse leased 143,771 SF at 1714 14th Street with Cantex.

• Inmar signed a 135,675 SF lease at 1131 West Barding with USAA/Ironwood Realty Partners.

HLC Deal

HLC DFW FACTS & FIGURES

Market

Existing Inventory # Bldgs.

Direct SF

14,000,000

7.0%

12,000,000

6.0%

10,000,000

5.0% 8,000,000 4.0% 6,000,000 3.0%

Vacancy

Total RBA

OVERALL DFW 8.0%

4,000,000

2.0%

Vac. %

DFW Airport

660

87,814,424

3,355,253

3.82%

East Dallas

620

50,100,077

4,659,288

9.30%

Great SW/Arlington

1,127

118,369,474

3,528,613

2.98%

Henderson County

19

1,255,938

29,968

2.39%

North Fort Worth

779

120,689,292

11,838,098

9.81

Northeast Dallas

1,567

118,420,170

5,521,165

4.66%

2,000,000

1.0% 0.0%

0 4Q 18

1Q 19

2Q 19

3Q 19

4Q 19

1Q 20

2Q 20

Absorption

3Q 20

4Q 20

1Q 21

2Q 21

Deliveries

3Q 21

4Q 21

Vacancy

VACANCY - OVERALL DFW 10.0% 9.0% 8.0% 6.6%

7.0% 5.75%

6.3%

6.0% 5.0%

5.3%

Northwest Dallas

1,391

114,796,454

4,066,798

3.54%

NW Dallas Outlying

700

107,046,767

4,353,208

4.07%

4.0% 3.0% 2.0%

South Dallas

1,479

88,349,890

6,789,407

7.68%

South Fort Worth

2,078

116,241,919

4,323,118

3.72%

South Stemmons

10420

923,084,405

48,464,916

5.25%

Totals

10,423

922,456,738

48,996,623

5.7%

1.0%

0.5%

0.3%

0.0% 4Q 18

1Q 19

2Q 19

3Q 19

4Q 19

1Q 20

2Q 20

Direct

3Q 20

4Q 20

1Q 21

2Q 21

Sublet

3Q 21

4Q 21

Total

ABSORPTION - OVERALL DFW 25,000,000 22,500,000 20,000,000 17,500,000

4Q Net Absorption

4Q Deliveries

Under Construction SF

1,320,480

425,000

1,981,381

East Dallas

41,966

-

3,463,726

Great SW/Arlington

417,671

-

1,712,060

Henderson County

-

-

-

North Fort Worth

941,325

1,376,601

6,320,083

Northeast Dallas

2,160,425

1,485,858

1,193,378

45,000,000

Northwest Dallas

459,059

16,000

3,321,305

35,000,000

NW Dallas Outlying

717,514

1,084,484

19,252,083

25,000,000

South Dallas

1,972,132

2,970,337

3,405,595

South Fort Worth

1,400,347

-

2,142,390

Market DFW Airport

15,000,000 12,500,000 10,000,000 7,500,000 5,000,000 2,500,000 4Q 18

1Q 19

2Q 19

3Q 19

4Q 19

1Q 20

2Q 20

3Q 20

Total Net

4Q 20

1Q 21

2Q 21

3Q 21

4Q 21

0

Leasing Activity

CONSTRUCTION - OVERALL DFW 40,000,000

30,000,000

20,000,000 15,000,000 10,000,000 5,000,000 0

South Stemmons

9,430,919

7,358,280

42,792,001

Totals

32,026,111

17,276,646

34,590,907 Source: CoStar 4Q 2021 Industrial Report

3Q 18

4Q 18

1Q 19

2Q 19

3Q 19

4Q 19

1Q 20

Delivered Inventory

2Q 20

3Q 20

4Q 20

1Q 21

2Q 21

3Q 21

4Q 21

Under Construction

9

SUBMARKET INTELLIGENCE GREAT SOUTHWEST/ARLINGTON

HLC OUTLOOK

CANON SHOULTS

MADDY CANTY

Managing Principal cshoults@holtlunsford.com 972.280.8328

Absorption

The Great southwest (GSW) industrial submarket concluded 4Q 2021 with record setting stats. At year’s end 2021, GSW reported an overall positive absorption of 4,097,750 SF. Additionally, GSW reported 458,066 SF of new construction completions and a year-end total of 1,712,060 SF of new projects under construction. The year-end 2021 vacancy rate decreased again to a record low of 2.98% versus 3.20% at 3Q 2021. This ranks GSW at the top of the major submarkets with the lowest vacancy rate. Looking forward to 2022, we expect the GSW market to remain as one of the top performing submarkets as tenant demand continues to expand across the DFW market and the supply of large blocks of space in GSW tightens with limited opportunity for additional development.

Market Associate mcanty@holtlunsford.com 972.280.8325

vs. Prev. Qtr

vs. 12 Mths Ago

417,671

700,156

152,938

Vacancy

vs. Prev. Qtr

vs. 12 Mths Ago

3.0%

3.2%

6.1%

Leasing Act.

vs. Prev. Qtr

vs. 12 Mths Ago

1,980,157

1,980,157

1,557,675

U/C SF

vs. Prev. Qtr

vs. 12 Mths Ago

1,712,060

805,591

682,957

Delivered SF

vs. Prev. Qtr

vs. 12 Mths Ago

-

253,033

TOP LEASE TRANSACTIONS • Bell Textron renewed their 406,746 SF lease at 3200 High River Road with Barings.

• Remington I-30 – a 244,920 SF spec development with Graff Interests

• Shorr Packaging signed a 221,335 SF lease at 975 W Oakdale Road with Crow Holdings Industrial.

• 1600 South Great Southwest Parkway – a 298,506 SF spec development with IDI

• Inmar signed a 135,675 SF lease at 1131 West Barding with Barrings.

• Cooper Commerce Center – Bldgs 2 & 3 | 7007-7009 South Cooper Street – a 394,477 SF and 189K SF spec project with NorthPointe Development

• Walbox signed a 129,450 SF lease at 2240 Forum Drive with Johnson Development.

• Tredit Tire signed a 108,400 SF lease at 3900 New York Avenue with Brookfield.

HLC Deal

576,123

• Wholesale Electric signed a 27,379 SF lease at 1111 West Carrier Parkway with Sealy.

HLC Deal

VITAL STATS 7.0%

3,100,000

6.0% 2,100,000

5.0% 4.0%

1,100,000 3.0% 2.0%

100,000

1.0% (900,000)

0.0% 4Q 18

1Q 19

2Q 19

Absorption

3Q 19

4Q 19

1Q 20

2Q 20

3Q 20

Deliveries

4Q 20

1Q 21

2Q 21

3Q 21

4Q 21

Vacancy

Source: CoStar 4Q 2021 Industrial Report

10

NEW DEVELOPMENTS

DEALS IN THE MARKET • Warrior Trail Crossing – USAA / Ironwood Realty Partners is selling a 176,670 SF single tenant building located in the GSW/Arlington submarket.

• DFW Premier Portfolio – Moxiebridge is selling a 764,255 SF fourteen (14) building DFW wide portfolio; two (2) buildings are located in the GSW market. The portfolio is 96% leased.

• 2900 Mayfield Road – a 182,693 SF spec development with Clarion • Warrior Trail Crossing | 2590 W Warrior Trail – a 176,670 SF spec development with USAA Real Estate (Leased to Pro Pac) • Wildlife 8 | 2503 North Belt Line Road – a 147,960 SF spec development with Crow Holdings Industrial

LARGE EXISTING VACANCIES • 3450 Roy Orr Boulevard – 507,984 SF • 510 W Trinity Boulevard – 343,200 SF • 4949 Amon Carter Boulevard – 211,780 SF • 3405 Roy Orr Boulevard – 184,283 SF

SUBMARKET INTELLIGENCE DFW AIRPORT

HLC OUTLOOK The Dallas-Fort Worth (DFW) Airport industrial submarket ended 2021 with an all time low vacancy rate equal to 3.82%. The vacancy has seen a big drop due to leasing for big blocks of space in Passport Park and Perot/Invesco’s 161 as well as a flurry of leasing between 100K and 200K SF suites.

Rental rates remained strong and are expected to continue to grow throughout 2022. The bulk warehouse rental rates are increasing into the mid $6 rate range depending on building age. In the 50K - 100K SF range for functional shallow bay product, we are seeing rates from $6.50 up to mid $8.00 depending on the finish level. Rental abatements are still prevalent depending on renewal versus new deals and the size of the lease transaction. Tenant improvement costs remained high because of increasing construction costs.

ANDREW GILBERT

Absorption

DFW International Airport is ranked as one of the largest cargo airports in the country. It boasts a high proportion of newer buildings since 2000 and, as a result, the submarket has a high concentration of efficient product with clear heights and dock configurations suitable for modern distribution. The submarket consists of large big-box users including Amazon, Uline, PPG, Bed Bath & Beyond, Fresenius Medical and many others.

KEATON BRICE

Market Director agilbert@holtlunsford.com 972.280.8312

Market Associate kbrice@holtlunsford.com 972.421.1956

vs. Prev. Qtr

vs. 12 Mths Ago

1,320,480

866,526

531,360

Vacancy

vs. Prev. Qtr

vs. 12 Mths Ago

3.8%

5.1%

9.2%

Leasing Act.

vs. Prev. Qtr

vs. 12 Mths Ago

2,543,270

4,052,872

U/C SF

vs. Prev. Qtr

vs. 12 Mths Ago

1,981,381

1,665,918

2,493,627

Delivered SF

vs. Prev. Qtr

vs. 12 Mths Ago

-

• Hilti signed a 484,107 SF pre-lease deal at Hines’ Bison Grove development in Lewisville.

• B.I.G Logistics expanded into 223K SF at 1000 North 28th Avenue north of the DFW Airport with Clarion Partners.

• Transamerican Parts renewed their 165,105 SF lease with LaSalle at 800 West Sandy Lake in Coppell.

HLC Deal

1,002,391

425,000

TOP LEASE TRANSACTIONS

• Air General signed a 113,640 SF lease with Prologis at 1555 Airfield Drive on DFW Airport land.

• Printograph renewed their 110,091 SF lease at 1001 Nolen Drive in Grapevine with Prologis.

1,735,903

VITAL STATS 4,000,000

10.0% 9.0%

• Communication Test Design, Inc leased 102,782 SF at Majestic’s DFW Airport Park in Lewisville.

3,000,000 7.0% 2,500,000

6.0%

2,000,000

5.0% 4.0%

1,500,000

3.0% 1,000,000

2.0%

500,000

1.0%

0

0.0% 4Q 18

1Q 19

2Q 19

Absorption

3Q 19

4Q 19

1Q 20

2Q 20

3Q 20

Deliveries

4Q 20

1Q 21

2Q 21

3Q 21

4Q 21

• Oakbend – a 175K SF development with Prologis on Oakbend Drive in Lewisville, set for completion in 2Q 2022 • MacArthur Business Park – a 152K SF two (2) shallow bay building project with frontage on Highway 121, set for completion in 3Q 2022

HLC Deal

LARGE EXISTING VACANCIES • 3150 State Highway 161 – 646,190 SF • 801 Industrial Boulevard – 204,556 SF • 9015 Sterling – 104,239 SF • 500 Enterprise Drive – 97,512 SF

3,500,000

8.0%

• West Vista Ridge Mall Drive – a 196,987 SF development with Prologis in Lewisville

NEW DEVELOPMENTS

• 2611 Regent Boulevard – 77,500 SF

• Bison Grove Business Park – a 880K+ SF four (4) building project with Hines at Edmonds and Garden Ridge, set for completion in 2Q 2022 with 480K SF preleased • Exchange Circle – a 315,463 SF two (2) building project with Brookfield off Freeport Parkway in Coppell, set for completion in 2Q 2022

Vacancy

Source: CoStar 4Q 2021 Industrial Report

11

SUBMARKET INTELLIGENCE NORTHEAST/EAST DALLAS

HLC OUTLOOK The Northeast/East Dallas submarket finished off the year by setting another historically low vacancy rate at 4.0% which is expected to go down after a few pending deals that will be announced early 1Q 2022. All product types are experiencing rent growth at an unprecedented pace with rental rates rising as much as 30.0% from the start of the year. Given the lack of land in traditional submarket locations, the development wave has carried into the East Mesquite/Sunnyvale markets and is extending all the way out to Forney/Terrell. With 8.8M SF currently under construction we do expect to see rent growth throughout the submarket given the rise in construction costs for new developments and the continued demand from occupiers.

JOSH BARNES

BLAKE TROIANI

Senior Vice President jbarnes@holtlunsford.com 972.280.8353

Market Associate btroiani@holtlunsford.com 972.265.0126

TOP LEASE TRANSACTIONS

Absorption

vs. Prev. Qtr

vs. 12 Mths Ago

544,064

847,595

4,734

Vacancy

vs. Prev. Qtr

vs. 12 Mths Ago

4.0%

4.3%

6.0%

Leasing Act.

vs. Prev. Qtr

vs. 12 Mths Ago

1,167,248

1,275,543

1,555,785

U/C SF

vs. Prev. Qtr

vs. 12 Mths Ago

6,611,432

4,811,642

3,320,447

Delivered SF

vs. Prev. Qtr

vs. 12 Mths Ago

297,720

-

222,996

VITAL STATS 7.0%

• Elements signed a 260K SF lease at 5351 Samuell with Prologis.

• TAGG Logistics signed an expansion for a total of 183,644 SF at 2850 Marquis with Link.

HLC Deal • WSI signed a 84,657 SF lease at 9804 Chartwell with Exeter.

• FNA Group signed a 80,850 SF lease at 1851 Big Town with Link.

HLC • Andersen Windows signed a 72,561 SF lease at 3300 Wood Deal Drive with IDI Logistics.

HLC Deal • SMR Portfolio Holdings signed a 64,268 SF lease at 1801 South Shiloh with TA Realty.

DEALS IN THE MARKET

• DFW Premier Portfolio – Moxiebridge is selling a 764,255 SF fourteen (14) building DFW wide portfolio; five (5) buildings are located in Mesquite/Garland. The portfolio is 96% leased.

• Garland Distribution Center – a 652,606 SF project on 48 acres in Garland. Leased by HLC. • IDI Logistics Portfolio – a 480K SF national portfolio at 3800 Leon Road in Garland

2,500,000 2,250,000

6.0%

2,000,000 1,750,000

5.0%

1,500,000 1,250,000

4.0%

1,000,000 3.0%

750,000 500,000

2.0%

250,000 0

1.0%

(250,000) 0.0%

(500,000) 4Q 18

1Q 19

2Q 19

Absorption

3Q 19

4Q 19

1Q 20

2Q 20

3Q 20

Deliveries

4Q 20

1Q 21

2Q 21

3Q 21

4Q 21

Vacancy

Source: CoStar 4Q 2021 Industrial Report

12

NEW DEVELOPMENTS

• Clements/Highway 80 – a 1,029,110 SF two (2) building project

by Exeter in Forney; 529,047 • SF cross dock, 500,063 SF cross dock • Mesquite Airport Logistics Center – a 1,003,100 SF two (2) building spec project by Dalfen in Mesquite • East Scyene Road – a 918,173 SF two (2) building project by Urban Logistics Realty in Mesquite; 592,995 SF spec cross dock and 325,218 SF spec cross dock • 11333 CR 212 – a 904,495 SF spec development by Stillwater Capital in Forney • 1103 Gateway Boulevard – a 712,900 SF spec development by Hunt Southwest in Forney • Sunnyvale Business Center – a 643,760 SF spec development by Langford Properties in Sunnyvale

• Gateway Boulevard – a 621,874 SF spec cross dock by Van Trust in Forney • Mesquite 635 – 555,790 SF spec three (3) building project by LGE in Mesquite; 239,918 SF front load, 159,728 SF rear load and 156,144 SF rear load • East Dallas Commerce Center – a 373,322 SF spec development by IDI Logistics in Mesquite • Meadows Road – a 355,319 SF two (2) building project by Landmark Companies in Mesquite; 216K SF spec cross dock and 139,319 SF spec rear load • E Scyene Road – a 310,900 SF rear load BTS for Vehicle Accessories Group by Jackson Shaw in Mesquite • 2614 Big Town – 211,112 SF spec cross dock by RMR Group in Mesquite

LARGE EXISTING VACANCIES • • • • •

951 S Town East Boulevard – 457,076 SF 1455 Republic Parkway – 169,924 SF 3901 Miller – 154,191 SF 4401 Samuell – 143,801 SF 1451 IH 30 – 138,402 SF

COMING SOON

• Akron Road – a 1,272,240 SF spec cross dock development by Seefried in Forney • Perimeter Road – a 297,628 SF two (2) building spec project by Core 5 in Garland • Marquis Road – a 194,029 SF two (2) building spec project by Landry Commercial in Garland • Platform 80/20 – a 862,624 SF two (2) building spec project

by Intrepid in Forney

SUBMARKET INTELLIGENCE FAR NORTHEAST DALLAS

HLC OUTLOOK The far Northeast Dallas submarket posted a very strong 4Q and continues to be a highly sought after market given its proximity to exceptional population growth, labor, and economic incentives. New buildings are seeing rent figures that lead the market in some cases due to the lack of 2nd generation options. As DFW continues to grow, we see the runway for development in this area to extend for quite a while. Land sites are being secured quickly by developers and the capital markets are following quickly. We expect rental rates in this area to continue to grow as the demand remains strong and newer land sites are seeing unprecedented price increases.

JOSH BARNES

BLAKE TROIANI

Senior Vice President jbarnes@holtlunsford.com 972.280.8353

TOP LEASE TRANSACTIONS

Market Associate btroiani@holtlunsford.com 972.265.0126

Absorption

vs. Prev. Qtr

vs. 12 Mths Ago

1,205,969

964,790

390,352

Vacancy

vs. Prev. Qtr

vs. 12 Mths Ago

5.2%

5.5%

6.6%

Leasing Act.

vs. Prev. Qtr

vs. 12 Mths Ago

909,941

942,159

1,175,722

U/C SF

vs. Prev. Qtr

vs. 12 Mths Ago

1,579,551

2,361,517

3,330,146

Delivered SF

vs. Prev. Qtr

vs. 12 Mths Ago

1,151,016

451,781

307,473

VITAL STATS 1,400,000

7.0%

1,200,000

6.0%

1,000,000

5.0%

800,000

4.0%

600,000

3.0%

400,000

2.0%

200,000

1.0%

0 (200,000)

0.0% 1Q 19

2Q 19

Absorption

3Q 19

4Q 19

1Q 20

2Q 20

3Q 20

Deliveries

4Q 20

HLC Deal

HLC Deal

HLC Deal

DEALS IN THE MARKET • CORE5 Business Center at Plano – a 67,570 SF building at 1001 Los Rios with Core5.

8.0%

4Q 18

• Fowling Warehouse leased 143,771 SF at 1714 14th Street with Cantex.

• GC Packaging leased 103K SF at 105 West Bethany.

• Commscope leased 100,354 SF at 1125 East Collins with Exeter.

• GC Packaging leased 100K SF at 3901 East Plano Parkway with Mapletree.

• Game Trade leased 62,108 SF at 3001 Shiloh with TA Realty.

• Dei Rossi Marketing leased 25,252 SF at 3110 Shiloh with TA Realty.

1Q 21

2Q 21

3Q 21

4Q 21

Vacancy

NEW DEVELOPMENTS

LARGE EXISTING VACANCIES • • • • •

350 Cypress Hill Drive (A) – 301,320 SF 915 Enterprise Boulevard – 195,743 SF 2161 Redbud Boulevard – 193,490 SF 4101 East Plano Parkway – 136,210 SF 3827 North McDonald Street (B) – 129,914 SF

COMING SOON • Core5 Logistics Center at McKinney | Phase 3 – a 769,500 SF spec development with Core5 Logistics in McKinney • McKinney National | Phase 2 – a 481,158 SF three (3) building spec project with Transwestern Development in McKinney • McKinney Airport Trade Center | Phase 1 – a 320K SF three (3) building spec project with Greystar in McKinney • M-75 Commerce Center – a 304,085 SF spec development with CA in McKinney

• Lookout Logistics Center – a 359,169 SF three (3) building spec project with Crow Holdings Industrial • Plano Commerce Center | Phase II – a 300K SF three (3) building spec project with Provident Realty • Star Business Park – a 277,700 SF two (2) building spec project with Blue Star • McKinney Airport Commerce Center – a 194,760 SF two (2) building spec project with HLCI in McKinney • Central Circle Logistics Park -– a 172,640 SF two (2) building spec project by Stonelake in McKinney • McKinney Trade Center | Phase 2 – a 171,400 SF spec development with ML Realty in McKinney

HLC Deal

HLC Deal

HLC Deal

Source: CoStar 4Q 2021 Industrial Report

13

SUBMARKET INTELLIGENCE NORTHWEST DALLAS

HLC OUTLOOK

ANDREW GILBERT

KEATON BRICE

Market Director agilbert@holtlunsford.com 972.280.8312

Absorption

Through 4Q 2021, the Northwest Dallas industrial submarket has been one of the strongest performing submarkets in DFW. Valwood continues to be a haven for building supplies companies as well as 3PL’s with it’s direct access to I-35. Billingsley, Longpoint and Panattoni have leased their recent developments in Valwood. The Metropolitan/Addison submarket is extremely tight from a vacancy standpoint as there are not any more available sites for development. Lastly, as developers move north to track down sites in Denton and Sanger, Highway 121 is now centrally located in the DFW market and an extremely desirable location for users. The Northwest Dallas submarket ended 2021 with a 3.75% vacancy rate with nearly 9M SF of positive net absorption. Expect the same statistics to continue as we move into 2022.

Market Associate kbrice@holtlunsford.com 972.421.1956

vs. Prev. Qtr

vs. 12 Mths Ago

459,059

711,237

286,531

Vacancy

vs. Prev. Qtr

vs. 12 Mths Ago

3.5%

4.1%

5.4%

Leasing Act.

vs. Prev. Qtr

vs. 12 Mths Ago

1,654,236

2,275,422

2,059,197

U/C SF

vs. Prev. Qtr

vs. 12 Mths Ago

7,462,001

2,414,214

2,394,703

Delivered SF

vs. Prev. Qtr

vs. 12 Mths Ago

240,461

40,500

TOP TRANSACTIONS • Comprehensive Logistics leased 250,080 SF with • • •

894,200

•

VITAL STATS 6.0%

2,000,000

•

HLC Deal

5.0% 1,500,000 4.0%

3.0%

1,000,000

•

Hunt Southwest at their new development in Denton on Western Boulevard.

Sherwood Bedding pre-leased 234,395 SF at Billingsley’s new development on Tittle Drive in Lewisville.

IFF renewed and expanded into 195,679 SF at 1624 West Crosby Road in Valwood with Eastgroup Properties.

4Front renewed their 182,400 SF lease at 1612 Hutton with Eastgroup in Valwood.

Napco Bag and Film signed a 127,506 SF lease at 1440 Lemay Drive in Carrollton.

DHL Supply signed a 112,320 SF lease at 451 Western Boulevard in Denton with TA Realty.

Complete Supply signed a 73,556 SF lease with ML Realty Partners at 13821 Diplomat Drive in Farmers Branch.

2.0% 500,000 1.0%

0.0%

0 4Q 18

1Q 19

2Q 19

Absorption

3Q 19

4Q 19

1Q 20

2Q 20

3Q 20

Deliveries

4Q 20

1Q 21

2Q 21

3Q 21

4Q 21

Vacancy

Source: CoStar 4Q 2021 Industrial Report

14

DEALS IN THE MARKET • DFW Premier Portfolio – Moxiebridge is selling

a 764,255 SF fourteen (14) building DFW wide portfolio with approximately 230K SF located in the northwest Dallas submarket. The portfolio is 96% leased.

NEW DEVELOPMENTS • Exeter Westpark II – a 1,424,200 SF two (2) • •

HLC Deal

• • •

building project with Exeter in Denton, set for completion in 3Q 2022 Denton Crossing 1 and 2 – a 699K SF two (2) cross dock project with Scannell in Denton, set for completion in 3Q 2022 Urban District 35 – a 441K SF four (4) building project with Urban Logistics Realty in Denton, set for completion in 4Q 2022 Live Oak Logistics Park – a 230K SF three (3) building shallow bay project with by Link located off of Highway 121, set for completion in 1Q 2022 Jubilee Lane Development – a 175K SF two (2) building project with High Street in Lewisville Creekview 121 | Buildings 9 and 10 – a 145K SF two (2) building shallow bay project with Eastgroup at Highway 121 frontage

LARGE EXISTING VACANCIES • 4435 Spring Valley Road – 127,945 SF • 1545 Crescent Drive – 69,590 SF

SUBMARKET INTELLIGENCE SOUTH DALLAS

HLC OUTLOOK

JOHN GORMAN

The overall South Dallas Industrial submarket, as surveyed of I-30, I-20, & I-45, is 136M SF and is now 3.9% vacant, which is 0.3% lower than reported in 3Q 2021. In accordance with the area surveyed, CoStar is reporting 758,598 SF of net absorption for South Dallas in 4Q 2021. South Dallas has 17.2M SF under construction in the I-30, I-20, & I-45 corridors combined. Of that construction 13.0%, or 2.2M SF, is for BTS or Design Build assignments. The remaining 87.0%, or 14.9M SF, under construction is speculative development. For the past 12 months the South Dallas submarket of I-30, I-20 and I-45 averaged a single digit vacancy rate of 4.9% which aligned with the remaining Dallas submarkets that have enjoyed single digit vacancy for quite some time. However, many expect the single digit vacancy to rise again along I-20 and I-45 with various developers and the projects under construction and on the horizon.

CANON SHOULTS

Senior Vice President jgorman@holtlunsford.com 214.920.9800

Managing Principal cshoults@holtlunsford.com 972.280.8328

Please note: The area CoStar uses for the South Dallas Submarket differs slightly from the Submarket John covers. Numbers may vary.

Absorption

vs. Prev. Qtr

vs. 12 Mths Ago

717,514

1,812,072

1,483,244

Vacancy

vs. Prev. Qtr

vs. 12 Mths Ago

4.1%

4.3%

8.2%

Leasing Act.

vs. Prev. Qtr

vs. 12 Mths Ago

1,894,725

3,789,041

2,832,379

U/C SF

vs. Prev. Qtr

vs. 12 Mths Ago

18,202,083

14,615,500

4,007,235

Delivered SF

vs. Prev. Qtr

vs. 12 Mths Ago

1,084,484

0

373,500

TOP LEASE TRANSACTIONS • Pratt Industries leased 1,108,080 SF from Hillwood on south Highway 67 in Cedar Hill.

VITAL STATS

• 3001 Midpoint Drive – a 1,059,671 SF BTS with

• FLEXE, Inc. leased 214,649 SF from TA Realty at

• PointSouth Boulevard 1 – a 1,013,833 SF spec

• Amazon (AMZL) leased 206,915 SF from Trammell

• 3800 Cedardale Road – a 998,640 SF spec

• GP Corrugated leased 135,512 SF from Barings at

• East Cleveland Road – a 800,737 SF spec

• George Fisher Central Plastics leased 108K SF

• 3301 North Dallas Avenue – a 549,017 SF spec

Seefried at 1305 Cleveland Road off I-20 and I-45.

39324 I-20 at Polk Road.

Crow at 9186 Van Horn Drive off I-20.

from KFG at 8901 Autobahn Drive off I-20.

3,200,000

12.0%

2,700,000

10.0%

2,200,000

8.0%

1,700,000

6.0%

1,200,000

4.0%

700,000

2.0%

200,000

0.0%

(300,000) 4Q 18

1Q 19

2Q 19

Absorption

3Q 19

4Q 19

1Q 20

2Q 20

3Q 20

Deliveries

4Q 20

1Q 21

2Q 21

3Q 21

4Q 21

Vacancy

spec project with Xebec

• Ryder Logistics leased 800,737 SF from USAA/

2821 Danieldale Road off I-20.

14.0%

NEW DEVELOPMENTS • Southport Parkway Buildings 1 & 2 – a 2,126,880 SF

DEALS IN THE MARKET • 3001 Midpoint Drive – DSV International is selling its 1,001,455 SF design build.

• TCC Altamoore – Trammell Crow is selling a

616,043 SF three (3) building portfolio off I-20 that is 82% leased.

Panattoni for DSV International

development with Majestic Realty

development with Morgan Stanley/Trammell Crow development with USAA/Seefried

development with Robinson Weeks Partners

LARGE EXISTING VACANCIES • 1300 East Fulghum Road – a 1,039,360 SF spec with Logistics Property Co

• 2900 West Drive – a 603,378 SF spec with AEW • 3535 North Houston School Road – a 399,621 SF spec development remaining with Prologis

• 2200 Danieldale Road – a 393K SF with CalSTRS (2nd generation space)

Source: CoStar 4Q 2021 Industrial Report

15

SUBMARKET INTELLIGENCE SOUTH STEMMONS

HLC OUTLOOK

CANON SHOULTS

The South Stemmons industrial submarket continues to be one of the strongest performing submarkets in Dallas-Fort Worth. Leasing activity has continued to remain healthy with the submarket reporting 2.8M SF of leasing activity, as well as 1.4M SF of positive absorption for 4Q 2021. The submarket posted a 3.7% vacancy rate at the end of 4Q 2021, which slightly decreased from 3Q 2021. Rental rates and price per SF continue to rise what seems monthly.

The submarket has continued to capitalize on its irreplicable infill location, and location has continued to outweigh functionality for tenant’s who benefit from the close proximity to Dallas CBD, the Medical District, and immediate access to thriving Dallas suburbs.

MADDY CANTY

Managing Principal cshoults@holtlunsford.com 972.280.8328

Market Associate mcanty@holtlunsford.com 972.280.8325

Absorption

vs. Prev. Qtr

vs. 12 Mths Ago

1,400,347

618,336

(117,447)

Vacancy

vs. Prev. Qtr

vs. 12 Mths Ago

3.7%

4.9%

6.1%

Leasing Act.

vs. Prev. Qtr

vs. 12 Mths Ago

2,151,698

1,999,227

U/C SF

vs. Prev. Qtr

vs. 12 Mths Ago

-

500,670

-

Delivered SF

vs. Prev. Qtr

vs. 12 Mths Ago

549,770

Regal Row with Stonelake Capital.

• Texila Stone has signed a 46k SF lease at 3200 Irving Boulevard with M2G Ventures.

• GranImport has signed a 36k SF lease at 1110

HLC Deal

2,880,191

-

TOP TRANSACTIONS • Broadnax Printing has signed a 47k SF lease at 727

Inwood Road with Hines.

• Bell Mechanical has signed a 22k SF lease at 9761 Clifford with Link.

• XL Parts has signed a 15k SF lease at 1120 Security

HLC Deal

392,220

Drive with Hines.

VITAL STATS 8.0% 2,750,000 7.0% 2,250,000 6.0% 1,750,000

5.0%

1,250,000

4.0%

750,000

3.0% 2.0%

250,000

1.0%

(250,000)

0.0%

(750,000) 4Q 18

1Q 19

2Q 19

Absorption

3Q 19

4Q 19

1Q 20

2Q 20

3Q 20

Deliveries

4Q 20

1Q 21

2Q 21

3Q 21

4Q 21

Vacancy

Source: CoStar 4Q 2021 Industrial Report

16

DEALS IN THE MARKET • DFW Premier Portfolio – Moxiebridge is selling a 764,255 SF fourteen (14) building DFW wide portfolio; three (3) buildings are located in the South Stemmons submarket. The portfolio is 96% leased.

NEW DEVELOPMENTS • Loop 12 Central – a 267,560 SF two (2) building spec project with Jim Hendricks and Harlan Crow

LARGE EXISTING VACANCIES • 8401 Ambassador Row – 219,175 SF • 10850 Harry Hines Boulevard – 182,558 SF • 4001 Irving Boulevard – 130K SF • 2465 Joe Field Road – 128,877 SF • 2201 Chemsearch Boulevard – 110K SF • 8611 Ambassador Row – 100K SF (Sublease) • 811 Regal Row – 97,927 SF

SUBMARKET INTELLIGENCE NORTH FORT WORTH

HLC OUTLOOK The North Fort Worth submarket finished 2021 with a bang. Annual net absorption hit an all time high of 7.5M SF, surpassing 2019’s high water mark by 2M SF and up 3M SF from 2020. The north east Tarrant/Alliance cluster saw the majority of bulk leasing activity as it contributed to 90% of the submarket’s total absorption figure. The Meacham/Fossil Creek shallowbay product also continues to perform extremely well with an existing vacancy of 6.15% and second gen vacancy at 3.60% respectively. The submarket also saw overall vacancy dip below double digits for the first time in six quarters, in lieu of the fact that annual deliveries hit 7.1M SF. GEORGE JENNINGS

MATT CARTHEY

Market Director gjennings@holtlunsford.com 817.632.6151

Absorption

These dynamics, along with rate growth and continued cap compressions, have kept developers bullish on North Fort Worth with the submarket expecting another 9.5M SF of deliveries for the calendar year of 2022 with additional projects being proposed.

All indications point to the submarket’s continued success for the coming year as demand remains at an all time high.

Partner mcarthey@holtlunsford.com 817.710.1111

vs. Prev. Qtr

vs. 12 Mths Ago

941,325

3,052,569

1,809,252

Vacancy

vs. Prev. Qtr

vs. 12 Mths Ago

9.8%

10.0%

10.9%

Leasing Act.

vs. Prev. Qtr

vs. 12 Mths Ago

2,480,124

3,463,195

869,045

U/C SF

vs. Prev. Qtr

vs. 12 Mths Ago

6,320,083

5,871,974

6,861,771

Delivered SF

vs. Prev. Qtr

vs. 12 Mths Ago

1,376,601

1,907,996

2,980,778

VITAL STATS

14.0%

6,000,000

12.0%

5,000,000

10.0%

TOP LEASE TRANSACTIONS

• CEVA signed a 419K SF lease at Elizabeth Creek Gateway with LBA Logistics.

• Williamson-Dickie renewed a 237,500 SF lease at Westport @ Alliance with Hillwood.

• Anew signed a 79,796 SF lease at Intermodal Commerce Park.

DEALS IN THE MARKET

• Alliance Center North 1 - a 1,111,500 SF single building from Hillwood.

• Intermodal Commerce Park - a 1,404,690 three (3) building project from Crow/Weber Gruene.

• Alliance Northport - a 911,656 SF three (3) building project from Hillwood.

• Mercantile Industrial Forward – a 693,840 SF two (2) building forward sale opportunity with Mercantile Partners • Saginaw Distribution Center – a 320,760 SF building from Falcon Commercial Development • Mark IV - 820 Distribution Center - a 122,779 SF single building from Huntington

4,000,000

8.0% 3,000,000 6.0% 2,000,000

4.0%

1,000,000

2.0%

0

0.0% 4Q 18

1Q 19

2Q 19

Absorption

3Q 19

4Q 19

1Q 20

2Q 20

3Q 20

Deliveries

4Q 20

1Q 21

2Q 21

3Q 21

4Q 21

Vacancy

Source: CoStar 4Q 2021 Industrial Report

NEW DEVELOPMENTS

• Northlake 35 – a 2,155,680 SF four (4) building project with Texas Commercial Development HLC • Mecham Commerce Center – a 1,311,911 SF four (4) building Deal project that will kick off with a 334,751 SF cross-dock facility • Alliance Center East 1 – a 1,240,584 SF development with Hillwood • Cowtown Crossing – a 1,021,129 SF three (3) building project with TDC • 114 Logistics Park – a 1,004,400 SF development with Logistics Property Company • Sylvania Crossing @ I-35 West – a 947,140 SF two (2) building project with Ironwood

• Intermodal Logistics Center 3 – a 705K SF development with Northpoint Development • Westside 35 – an approximately 500K SF two (2) building front-load project with Crow Holdings Industrial • Midway Logistics Park – a 491K SF three (3) building project with Stream Realty Partners • DFW Point 35 – a 485,680 SF two (2) building project with Stonemont • Champions Circle Business Park – a 361,040 SF three (3) building project with Hopewell • Basswood 35 – a 237,390 SF two (2) building project with EastGroup HLC • Northmark Commerce Center – a 234,478 SF development Deal with LGE and Crow Holdings Industrial • Port 156 Logistics Center – a 213,581 SF development with KBC/Stonemont • Mark IV Distribution Center – a 122,779 SF development with CL Realty HLC • Air Commerce Logistics Center – a 114,400 SF development Deal with Holt Lunsford Commercial Investments

LARGE EXISTING VACANCIES • • • • •

Speedway Logistics Crossing – 795,780 SF Northlink A – 754,473 SF Mark IV Commerce Park Building 1 – 581,000K SF Highway 114 Distribution Center – 568,632 SF Westport Parkway Logistics Center – 400,299 SF

17

SUBMARKET INTELLIGENCE SOUTH FORT WORTH

HLC OUTLOOK The South Fort Worth industrial submarket posted a 4Q 2021 vacancy of 7.68%, a figure up from 7.40% in 3Q 2021. Vacancy has consistently crept up quarter after quarter since 1Q 2019 when the submarket posted a record low vacancy figure of 4.13%. This is due to the submarket’s robust development pipeline that has consistently expanded since 2018.

The uptick in vacancy is not concerning as South Fort Worth saw 3.65M SF of absorption in 2021, a record number for the submarket. We expect to see this vacancy figure continue to flex through 2022 with another large wave of development delivering mid-year. South Fort Worth as a whole continues to have solid leasing activity on all existing and new product.

MATT CARTHEY

In terms of future growth in the submarket, South Fort Worth’s next wave of speculative development is slated for delivery in 1Q 2022 and 2Q 2022. These projects include Jackson Shaw’s 562,670 SF three (3) building spec project, 46 Ranch Logistics Park; TCRG’s 178,880 SF rear load; Forefront Development’s 605,489 SF crossdock; Majestic’s 418,209 SF two (2) building project; Clarion & Crow Holdings Capital’s first two (2) buildings in Carter Park East topping out at 874,300 SF; and IDI’s 374,874 SF two (2) building shallow bay project. All of these developments already have panels tilted, roofs in place, and, in some cases, are pre-leased.

THOMAS GRAFTON

Partner mcarthey@holtlunsford.com 817.710.1111

Market Director tgrafton@holtlunsford.com 817.632.6152

Absorption

vs. Prev. Qtr

vs. 12 Mths Ago

1,972,132

117,645

(117,447)

Vacancy

vs. Prev. Qtr

vs. 12 Mths Ago

7.7%

7.4%

6.5%

Leasing Act.

vs. Prev. Qtr

vs. 12 Mths Ago

3,279,192

737,903

U/C SF

vs. Prev. Qtr

vs. 12 Mths Ago

HLC Deal

3,421,645

4,843,512

3,503,734

Delivered SF

vs. Prev. Qtr

vs. 12 Mths Ago

212,175

649,881

VITAL STATS 8.0%

3,250,000

7.0%

2,750,000

6.0%

2,250,000

5.0%

1,750,000

4.0%

1,250,000

3.0%

750,000

2.0%

250,000

1.0%

-250,000

0.0%

-750,000 4Q 18

1Q 19

2Q 19

3Q 19

Absorption

4Q 19

1Q 20

2Q 20

3Q 20

Deliveries

4Q 20

1Q 21

2Q 21

3Q 21

• •

2,213,810

2,970,337

TOP LEASE TRANSACTIONS • Saddle Creek has signed a 861,840 SF lease at South

4Q 21

Vacancy

DEALS IN THE MARKET • 2109-2209 South Main Street – a 157,847 SF building • 2851 South Riverside Drive – a 102,193 SF building • 800 South 6th Avenue – a 75,511 SF building • 9001 South Freeway – a 70,269 SF building NEW DEVELOPMENTS • Risinger Park South – a 1,101,060 SF three (3) building project with TCRG Properties

• HomeGoods Build-To-Suit – a 1,033,760 SF BTS •

Source: CoStar 4Q 2021 Industrial Report

• 18

Fort Worth I-35 Logistics Center with Ascendant Commercial.

OTR has signed a 82,029 SF lease at Risinger Road South with TCRG. Jorstin Transportation Services has signed a 28,183 SF lease at Everman Trade Center with Cabot Properties.

•

for HomeGoods with Clarion and Crow Holdings Capital Carter Park East – a 874,300 SF two (2) building project part of a master planned park with Clarion and Crow Holdings Capital Granite Village Creek – a 605,489 SF cross-dock development with Forefront Development 46 Ranch Logistics Park – a 562,670 SF three (3) building project with Jackson Shaw

• Southland Business Park – a 418,209 SF two (2) building project with Majestic Realty

• South Fort Worth Commerce Center – a 374,874 SF

HLC Deal

two (2) building shallow bay project with IDI Logistics

• Misfits Market – a 353,970 SF BTS with Rob Riner Companies and TPA Realty

LARGE EXISTING VACANCIES • Fort Worth Logistics Hub | Building 1 – 670,914 SF • South Fort Worth Logistics Center | Building 1 – • • • •

644K SF Carter Distribution Center | Building E – 293,705 SF Carter Park Distribution | Building C – 262K SF Carter Business Park | Building B – 231,333 SF Southwest Crossing Logistics Center – 212,175 SF

DALLAS

5950 Berkshire Lane Suite 900 Dallas, Texas 75225 T 972.241.8300 F 972.241.7955

FORT WORTH

1200 Summit Avenue Suite 300 Fort Worth, Texas 76102 T 817.710.1110 F 817.810.9017

www.holtlunsford.com

HOUSTON

11451 Katy Freeway Suite 300 Houston, Texas 77079 T 713.850.8500 F 713.850.8550