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Nike lease fills huge southern Dallas County warehouse

Dallas County provided economic incentives for more than 500 new jobs in the Wilmer building.

Another huge warehouse lease has filled a new industrial building in southern Dallas County.

Developer Logistics Property Co. announced it has rented all of its more than 1 million-square-foot Southport Logistics Park Building 3 in Wilmer.

The distribution building is at 1300 Fulghum Road near Interstate 45.

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Developer Logistics Property didn’t identify the tenant but said it was an American multinational corporation in the business of “footwear, apparel, equipment, accessories and services.”

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Dallas County previously provided economic incentives in the form of property tax abatements to Nike USA Inc. at the same address.

“Nike would improve the build-to-suit facility to serve as a major distribution fulfillment center,” according to Dallas County documents related to the tax abatements. “The project would create and maintain 500 new jobs with an average salary of $37,000, which is about $7,000 more than most salaries in the inland port.

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“Additionally, this project will increase the county’s tax base by at least $60 million.”

The county approved the $68,000 annual tax break in November.

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The Southport Logistics Center building is part of a 3.55 million-square-foot, 252-acre business park that Logistics Property is building near Union Pacific Railroad’s southern Dallas County intermodal depot on I-45.

“Logistics Property Company is delighted to welcome our newest tenant to Southport,” Max Mueller, vice president with the firm, said in a prepared statement. “We have no doubt that they are in good company alongside their high-caliber corporate neighbors at our rapidly growing industrial park.”

Dan Estes, John Hendricks, Kacy Jones and Seth Kelly with CBRE Group negotiated the lease with Nathan Lawrence.

“Less than 48 hours from every major market in North America, it’s the perfect logistics and manufacturing center for all types of operations, big or small,” Jones said.

Logistics Property is currently building a fourth-phase, 620,000-square-foot warehouse in the Wilmer business park.

The Dallas-Fort Worth area is the country’s fastest growing industrial building market with over 80 million square feet of space in the development pipeline. In 2022, the D-FW area recorded six industrial leases of 1 million square feet of more, according to CBRE.

A record number of 1 million-square-foot-plus warehouse leases were signed nationwide last year. And the D-FW area was one of the busiest markets for these larger transactions.

“Traditional retailers/wholesalers accounted for 53 of the top 100 deals, expanding their footprints to accommodate e-commerce sales growth and store more inventory,” CBRE researchers said in the new report. “Third-party logistics operators signed 18 of the top leases, up from only 10 in 2021 and seven of which were for 1 million square feet or more versus just two in 2021.

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“E-commerce companies followed with 14 of the top 100, down from 21 in the previous year.”

The D-FW area was among the U.S. metro areas with the most 1 million-square-foot plus...
The D-FW area was among the U.S. metro areas with the most 1 million-square-foot plus industrial leases in 2022, according to CBRE.(CBRE )