Invesco JV Secures 523 KSF Tenant at DFW Logistics Campus

DFW Park 161 occupies 197 acres in Irving, Texas. Image courtesy of JLL

Perot Development Co., in a joint venture with Invesco Real Estate, has signed LKQ Corp. as a tenant at DFW Park 161, a 197-acre master-planned industrial campus in Irving, Texas. The auto parts provider will occupy 523,260 square feet at the property’s Logistics Center 12, a 707,940-square-foot facility. JLL negotiated on behalf of the landlord, while CBRE represented the tenant.

Located at 2900 State Highway 161, Logistics Center 12 features 40-foot clear heights, a 2,854-square-foot speculative office component, 28 dock doors, two drive-in doors, 127 vehicle parking spaces and 16 trailer parking spaces.

DFW Park 161, up close

Perot and Invesco broke ground on the 2.4 million-square-foot speculative development dubbed DFW Park 161 in 2020, with Peinado Construction as general contractor and Halff Associates as architect in charge. The project’s Phase I came online in 2022. Other tenants at the property include Amazon, Life Science Logistics and Pitney Bowes, Perot President & CEO Pat Perot said in prepared remarks.

The industrial park is adjacent to Dallas-Fort Worth International Airport and close to several FedEx and UPS regional hubs. The property benefits from the Freeport Inventory Tax Exemption and other tax incentives, allowing for the reduction of customs tariffs and other taxes.

In partnership with JLL

CBRE’s team of Executive Vice President Jacob Bobek and Senior Vice President Timothy Vogds worked on behalf of the tenant. JLL’s team of Managing Directors Kurt Griffin and Nathan Orbin represented the landlord.

JLL also assisted the partnership in selling multiple buildings within the business park. In June 2022, DFW Park 161’s Phase I, encompassing 1 million square feet across three warehouses, was sold to BentallGreenOak. Later that year, a 219,000-square-foot distribution center leased to Amazon changed hands.