DFW AIRPORT, Texas – May 2, 2022 – Perot Development Company, Invesco Real Estate, Peinado Construction and Halff Associates, Inc. received the 2021 Best Deal in Real Estate Award in the industrial development category from the Dallas Business Journal for their contributions to DFW Park 161. A 200-acre industrial development, DFW Park 161 is strategically located fronting State Highway 161 at Dallas Fort Worth International Airport in the center of the DFW Metroplex. The site has excellent access to SH 161, SH 183 and SH 114 for efficient movement of goods.
Besides the location, big-box tenants and sheer size, what makes DFW Park 161 stand out is its open spaces. According to the Environmental Protection Agency, the property contains two areas with waters of the U.S., which is a threshold term to describe federal jurisdiction under the Clean Water Act. That means developers cannot touch those waterways. What started as a topographic liability turned into an asset.
“It defined how we had to develop this property,” said Perot Development Company President and CEO Pat Perot. “I thought it was a negative when I started working on this. But after it is over, I see it as a positive because it gives you that open green space you would not normally have.”
DFW Park 161 is a joint venture between Invesco Real Estate, the global real estate investment business of Invesco Ltd., and Perot Development Company, with First United Bank providing financing support.
Dallas Fort Worth International Airport owns the property, and Perot Development Company ground leases the land. There was some difficulty getting utilities to the area, Perot said, which is why the property sat empty.
Today, the industrial park boasts tenants like Amazon and Pitney Bowes. Perot said that since the park is centrally located, it has access to a huge population of potential workers and various other advantages.
Key players were Pat Perot, Perot Development Company; Chris Clegorn, Invesco Real Estate; Derek Downs, Halff Associates; Teddy Peinado, Peinado Construction; Kurt Griffin and Nathan Obin, JLL (Jones Lang LaSalle, Inc.).
ABOUT PEROT DEVELOPMENT COMPANY
Perot Development Company, headquartered in Dallas, specializes in industrial build-to-suit and speculative project development in global e-commerce fulfillment, air cargo and logistics, warehouse/distribution and air freight forwarder facilities at DFW International Airport, George Bush Intercontinental Airport and beyond. Since being founded in 2000, Perot Development Company has developed more than 15 industrial projects totaling approximately 8 million square feet and funded about $629 million in total costs. For more, see perotdevelopment.com.
MEDIA CONTACT
Randy E. Pruett, Cooksey Communications
214.505.1685 Mobile
Randy@CookseyPR.com