The 219,000-square-foot property is fully leased.
Invesco Real Estate, in joint venture with Perot Development Co., has sold a 219,000-square-foot, fully leased Class A distribution center in Irving, Texas. JLL Capital Markets worked on behalf of the seller.
Completed earlier this year, DFW Park 161 AMZL is located at 3100 State Highway 161, within the master-planned DFW Park 161 and the DFW Airport Industrial submarket, one of the most sought-after industrial areas of the region. The facility was built as a distribution center for Amazon and features 32-foot clear heights, 17 dock doors, 18 drive-in doors, 1,440 parking spots and 27 trailer parking spaces.
Invesco and Perot broke ground on DFW Park 161 in February 2020. The 2.4 million-square-foot development spans 200 acres of land leased from the airport. This June, the company sold Phase I of the park, totaling three buildings and 1 million square feet, to BentallGreenOak.
The recently completed distribution center is situated on a 55.8-acre lot just east of Dallas-Fort Worth International Airport. State Highway 161 is one of the main transportation arteries in the area, with 123,000 vehicles passing by daily. Additionally, the property offers easy access to the major metros within the Texas Triangle.
The JLL Capital Markets team involved in the transaction included Senior Managing Directors Dustin Volz and Stephen Baily, Directors Dom Espinosa and Zach Riebe, together with Analyst Jack Copher.