Transwestern represents building owner in more than 900,000 sf of recent leases
DALLAS – Transwestern today announces Tellworks Communications has signed a new lease for 722,733 square feet of industrial space at Park 20/360 at 4101 Research Blvd. in Arlington, Texas. The firm will fully occupy Building 1 at the industrial park. Transwestern Principal John Brewer and Vice President Joe Rudd represented the landlord, a partnership between Ridge and Invesco Real Estate, a global real estate investment manager, in the transaction.
CBRE Senior Vice President Ryan Keiser represented the tenant.
Other recent lease transactions at Park 20/360 include:
Baker Distributing Co., a wholesale HVAC supplier, leased 83,634 square feet in Building 5. Jordan Christensen, principal at Tenant Real Estate Advisors, represented Baker in the transaction.
OmniSource Inc., a regional wholesale tire distributor, leased 71,534 square feet in Building 3. Senior Vice President Mark Scott of Foundry Commercial and Barrett Bufkin, Transaction Specialist at esrp, represented OmniSource.
Summit Midstream Partners, an energy infrastructure company, leased 23,609 square feet in Building 4 in a direct transaction with Ridge.
“Park 20/360’s location in the Great Southwest (GSW) submarket is highly desired due to its central location in the Metroplex, its proximity to Dallas/Fort Worth International Airport and its outstanding highway infrastructure,” said Brewer. “This submarket has led DFW in industrial absorption and new construction in this historic real estate cycle.”
Delivery of the four buildings in Phase 1 at Park 20/360 began in November 2017 and finalized in January 2018, with leases already signed for 71 percent of its 1.26 million square feet. Phase 2 construction is imminent and will provide an additional 360,000 square feet across four buildings.
“The vision for Park 20/360 has developed into a much-needed, state-of-the-art addition to the 100 million-square-foot GSW industrial district,” said Rudd. “It is extremely rewarding to see what was a dream 3 ½ years ago become a reality.”
Park 20/360 is a 1.6 million-square-foot industrial park on a 119-acre campus at the northwest corner of Interstate 20 and State Highway 360. Located inside a Triple Freeport Tax Exemption zone and within the Great Southwest Industrial District, the property lends itself to local, regional and national users. The property is approximately 11 miles south of the Dallas-Fort Worth International Airport and is in close proximity to the Arlington Highlands Lifestyle Center, AT&T Stadium and Globe Life Park in Arlington.
