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Republic develops warehouse project

An industrial developer with a new North Texas office has launched a $24 million, 374,000-square-foot speculative warehouse project southeast of the Dallas/Fort Worth International Airport.

Earthwork at the 25-acre site northeast of Northgate Drive and Valley View Lane in Irving started in late July. The three-building complex will be called DFW/161 Distribution Center.

The first phase will include warehouses of 176,000 and 103,700 square feet, said Todd Jones, senior vice president for Atlanta-based developer Republic Property Co.’s new office in Irving.

The larger building will be a cross-docked facility with a 30-foot clearance that will accommodate tenants needing 45,000 square feet or more, Jones said. It will lease for $4.25 per square foot with a $5 per square foot tenant improvement allowance, he said.