IRVING, Texas, October 25, 2018 – With construction on their latest spec development still ongoing, Liberty Property Trust is proud to announce that the new facility has been fully preleased. Located in the heart of the Great Southwest submarket, at 5350 Frye Road in Irving, Liberty Park GSW North Building 1 is a 172,120-square-foot industrial property. Shell construction is expected to be completed before the end of October.
In their search for a tenant, Liberty Property Trust was represented by Cushman & Wakefield (NYSE: CWK) Executive Managing Directors Kurt Griffin and Nathan Orbin, and Associate Vice President David Eseke.
“The Great Southwest submarket continues to lead all of Dallas/Fort Worth in absorption year-to-date due to its vast supply of quality labor, its access to major highways, and its proximity to DFW International Airport,” said Eseke, Associate Vice President of Leasing Tenant Representation at Cushman & Wakefield. “We felt a new building with modern amenities and the ability to fully secure the property was always going to be attractive to both the existing GSW tenant base and the groups looking to plant a flag in DFW.”
The property features a front-park, rear-load layout and a 36’ clear height—a rarity for buildings of this size in the Dallas-Fort Worth market.
The building has been leased by Chase Industries, a Cincinnati, Ohio-based manufacturer of custom traffic doors and specialty industrial traffic door systems. Colliers International represented the tenant in its search and lease.
“We believe the building is a great fit for Chase,” said Mike Heise, Vice President of Liberty Property Trust. “We are pleased they have chosen to grow with Liberty in Dallas.”
About Liberty Property Trust
Liberty Property Trust (NYSE:LPT) is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of industrial and office properties. Liberty’s 103.5 million square foot operating portfolio provides productive work environments for 1,200 tenants.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.