Nike Leases 1 MSF Dallas-Area Warehouse

Southport Logistics Park, Building 3. Image courtesy of Logistics Property Co.

Logistics Property Co. has signed Nike as a tenant at Southport Logistics Park in Wilmer, Texas, according to The Dallas Morning News. The retailer will occupy the entire 1 million-square-foot Building 3, a warehouse that can be expanded to more than 1.2 million square feet. CBRE brokered the transaction.

With this deal, Logistics Property Co. inked the third full-building lease at its 252-acre logistics campus, bringing the occupied space to more than 2.5 million square feet. The previous deals involved a 400,000-square-foot cross-docked facility, leased to a subsidiary of Amazon, and a 1.1-million-square-foot cross-dock facility.

The developer also intends to construct a fourth warehouse within the Wilmer business park, a 620,000-square-foot built-to-suit facility. At full build-out, Southport Logistics Park will encompass more than 3.7 million square feet of Class A industrial space.

The new Nike facility

Completed in 2021 on a 64.1-acre site, the single-story industrial facility features a 40-foot clear height, 50- by 54-foot column spacing and 60-foot speed bays. The property incorporates an ESFR sprinkler system, along with 164 trailer parking spaces and 364 car parking spots, expandable to 724 car parking and 197 trailer parking spaces.

Carrying the address 1300 Fulghum Road, Southport Logistics Park is just east of Interstate 45 and 5 miles south of Interstate 20, across the Union Pacific Dallas Intermodal terminal and American Intermodal Transport. The immediate area is home to numerous other industrial facilities including Schneider National Operating Center, Amazon DAL9 and Medline Industries, among others.

CBRE Executive Vice President Kacy Jones and Senior Vice President John Hendricks represented the landlord in the lease signing, while Vice Chairman Seth Kelly, Vice President Dan Estes and Executive Vice President Nathan Lawrence brokered the agreement on behalf of Nike.

READ ALSO: Trends That Will Shape Industrial Real Estate in 2023

According to a Dallas-Fort Worth market research conducted by CBRE, occupiers took up over 9.6 million square feet of industrial space in the metro during the fourth quarter of 2022, bringing the total for the year to 36.4 million square feet. The same source reveals that, last year, leases signed by manufacturing-related tenants made up 21.7 percent of all leases, which accounted for nearly 10 million square feet.

In one of the most prominent deals, Samsung signed a 670,941-square-foot lease at a two-building, 1.3 million-square-foot cross-dock industrial campus in Fort Worth, Texas. Still under development, the logistics hub is expected to be completed in early 2023.