Prologis to Build Major Dallas-Area Project

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Prologis plans to develop a business park with warehouse and distribution space in Plano, Texas. The Dallas suburb’s planning and zoning commission has approved the preliminary site plan for the project on 64.4 acres at 2300 W. Plano Parkway, near the northwest corner of W. President George Bush Highway and Custer Road.

The Plano Parkway campus will include eight buildings totaling nearly 1 million square feet of industrial space, according to The Dallas Morning News. The REIT acquired the project site last December from GI Partners, Collin County records show.

The former data center and office property at 2300 W. Plano Parkway was home to tech companies NTT Data, Dell Inc. and Perot Systems, as well as oil company Atlantic Richfield Co. (ARCO). It was partially demolished in 2018, The Dallas Morning News reported.

A booming industrial market

The REIT has a strong presence in the Dallas-Fort Worth metro. According to CommercialEdge data, Prologis has an industrial footprint of more than 43.7 million square feet in the Metroplex, which is set to expand by an additional 17.2 million square feet after the completion of Prologis’ purchase of Duke Realty.

CommercialEdge data also shows that as of June, the Dallas-Fort Worth metro had 157 industrial projects underway, totaling more than 61.2 million square feet. In Plano, nearly 1.4 million square feet was under construction.

Recently, Stream Realty Partners has broken ground on 20 East, a two-phase development totaling 3.4 million square feet of industrial space in Mesquite, Texas. The initial phase of Kaufman County’s largest industrial park will include three warehouses.

Meanwhile, Jackson-Shaw kicked off the construction of Chisholm 20, a 917,374-square-foot industrial project in Benbrook, Texas. The development firm teamed up with Chief Partners and secured a nearly $71 million construction loan for the industrial park, which is anticipated to come online in 2023.