June 12, 2008
175-Acre Auto Auction Center Comes to Dallas Logistics Hub
By Tonie Auer
ADESA, a motor vehicle auction, reconditioning, logistical and services company, has agreed to a 20-year lease for a new auto auction center at the 6,000-acre multimodal Dallas Logistics Hub.
Terms of the deal were not disclosed. The Allen Group, developers of the Dallas Logistics Hub in Southern Dallas County, said the build-to-suit facility will be located on 175 acres within the city of Hutchins. The property will house three buildings totaling approximately 196,000 square feet of space for an auction arena, administrative and financial offices and reconditioning facilities.
The Allen Group and ADESA will design, construct and commission the facility as LEED certified. Construction will commence in a few weeks, and the facility is expected to be operational in summer 2009.
The Dallas Logistics Hub broke ground in November on its first two industrial buildings. Those two buildings will provide more than 827,000 square feet of new industrial space for lease and are currently scheduled to be the first LEED-certified industrial buildings in North Texas.
During the first quarter of 2008, a wave of new construction hit the Dallas-Ft. Worth market as developers added nearly 5.5 million square feet of new industrial product, according to the a first quarter report by Grubb & Ellis Co. The South Dallas submarket saw the most new space deliveries during the first quarter, with nearly 2.3 million square feet coming online and an additional 2.5 million square feet in the works.
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