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“The DFW Airport has been and will continue to be a significant economic driver for the area, and right now vacancies are at a 30-year low,” Nunley says.
DALLAS–Developer Jackson-Shaw recently broke ground on the first phase of the Parc Royal industrial development. The 30-acre, 511,500-square-foot project will be placed near the DFW Airport at Royal Lane in Irving, TX.
“The DFW Airport has been and will continue to be a significant economic driver for the area, and right now vacancies are at a 30-year low,” says Jason Nunley, vice president of development at Jackson-Shaw, in a statement.
The project is Jackson-Shaw’s latest in the area, and the first in several years. In 2012, the Dallas-based developer completed the Parc 114, a 52-acre master-planned business park.
“The shallow bay market in and around DFW Airport is extremely tight. New projects like Parc Royal will allow developers to build within a healthy submarket and will provide quality real estate options for tenants who are searching for space,” says Blake Kendrick managing director of Stream Realty Partners.
Construction will complete in the last quarter of 2014, while the second phase of the plan will then add an additional 641,500 square feet of industrial face.
The construction financing was provided by Texas Capital Bank. Mycon General Contractor Inc. has been named as general contractor, while GSR Andrade Architects is the architect.
Jackson-Shaw was unable to comment before deadline.