The Allen Group and BNSF Railway Company Execute Purchase Rights Agreement
April 18, 2007
SAN DIEGO, Apr 18, 2007 (BUSINESS WIRE) — The Allen Group, a major developer of logistics parks and commercial properties throughout the United States, announced they have executed an agreement granting BNSF Railway Company (BNSF) the right to purchase land within the Dallas Logistics Hub as the next step in evaluating the possibility of a new intermodal facility at this location.
The agreement was executed and announced last Friday by Edward Romanov, President and Chief Operating Officer of The Allen Group, during the Dallas Logistics Hub Grand Opening Ceremony in front of 1,000 attendees in Southern Dallas County.
Under the terms of the agreement, BNSF has the option to purchase a minimum of 387 up to a maximum of 530 acres of land within the Dallas Logistics Hub for construction of an intermodal facility. The site under consideration fronts 8,000 feet of BNSF track in the City of Dallas and represents a portion of the 2.5 miles of BNSF track frontage located within the Dallas Logistics Hub.
“We are pleased to finalize this agreement providing BNSF Railway the opportunity to possibly extend its intermodal network with a facility at the Dallas Logistics Hub,” said Edward Romanov, President and Chief Operating Officer of The Allen Group. “If BNSF uses its option and constructs an intermodal facility here, it would be the first logistics park in North America to house two intermodal facilities operated by the two largest U.S. freight rail carriers.”
The Dallas Logistics Hub, developed by The Allen Group, is a 6,000 acre master-planned logistics park located in Southern Dallas County. With 60 million square feet of development potential and comprehensive rail-ground-air access, the Dallas Logistics Hub will serve as a major inland port for the distribution of goods to the major population centers of the Central and Eastern United States.