Industrial Mid-Year Report Q2 2020

ALLEN

ND

75

GE

Cushman &Wakefield Dallas/Fort Worth

PLANO

35E

121

MURPHY

Pinnacle/Turnpike RICHARDSON ADDISON CARROLLTON

35E

21

75

635

OBSERVATIONS & TRENDS 30

FARMERS BRANCH

114

635

• Attractive because of its access to dense blue-collar labor populations and infill location between Downtown Dallas and DFW International Airport • While Turnpike is comprised of mostly older product with lower clear heights, narrow/shared truck courts and limited loading/trailer parking capabilities, Pinnacle’s building stock is newer and offers more modern amenities • Primarily built-out with very few remaining developable land sites SELECT MARKET ACTIVITY & NEW DEVELOPMENTS – Geodis renewed in 616k sf of Cohen Asset Management’s Pinnacle Park I, a 1 msf cross-dock building at 3700 Pinnacle Point Drive in Dallas. BALCH SPRINGS FORNEY 20 30 80 175 175

635

114

12

12

HIGHLAND PARK

35E

183

IRVING

75

DALLAS

PINNACLE/ TURNPIKE

30

GRAND PRAIRIE

12

35E

45

12

12

20

20

HUTCHINS

67

35E

DUNCANVILLE

45

DESOTO

LANCASTER

WILMER – LINK leased the remaining 146k sf front-load vacancy at their Pinnacle Park 1, a 636k sf cross-dock building at 1421 N Cockrell Hill Road in Dallas, bringing occupancy to 100%. – Commerce 30 (Buildings A & B) make up the 1.3 msf of YTD completions. The project, developed by Hillwood and sold in a forward to Clarion Partners, consists of 2 speculative cross-docks (673k & 609k sf). Geodis pre-leased and occupied Building B (673k sf). – Trammell Crow broke ground on MacArthur Distribution Center, a 392k sf speculative rear-load building located just east of MacArthur Boulevard on the north side of I-30 in Dallas. 35E 67

MARKET SUMMARY

2012 2013 2014 2015 2016 2017 2018 2019 YTD 2020

25.7

25.7

25.7

26.3

26.8

27.6

27.8

29.1

30.5

Inventory (MSF)

Overall Net Absorption (MSF)

(226,121)

1.1

118,462

2.1

198,619 272,017

-1.1

2.3

1.2

12.0% 7.7% 7.2% 1.6% 2.9% 4.5% 9.0% 5.9% 5.7%

Overall Vacancy

204,762

0

0

620,445 556,613 733,241 189,200

1.4

1.3

Completions (MSF)

Under Construction (MSF)

0

0

620,445 264,413 733,241 189,200

2.2

1.3

392,220

78 Q2 2020