Prologis Mesquite Presentation

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PROLOGIS MESQUITE

LEASING & MARKETING PRESENTATION

PREPARED FOR:

MAY 29, 2018

PROLOGIS MESQUITE

TABLE OF CONTENTS

INTRODUCTION TABLE OF CONTENTS

I. II. III. IV. V.

TEAM INTRODUCTION

COMPETITION

STRATEGY & RECOMMENDATIONS

MARKET OVERVIEW

ACTIVE LISTINGS

CUSHMAN & WAKEFIELD | 3

PROLOGIS MESQUITE

INTRODUCTION

INTRODUCTION DFW INDUSTRIAL PLATFORM

AGENCY LEASING

CAPITAL MARKETS ADVISORY GROUP

KURT GRIFFIN, SIOR Executive Managing Director

NATHAN ORBIN, SIOR Executive Managing Director

TAYLOR STARNES Senior Analyst

JUD CLEMENTS Executive Managing Director

ROBBY RIEKE Director

BEN FRIEDLAND Financial Analyst

ANN JAGGARS Analyst

ran of the ecializes in consulting. irector ke.com

ADDITIONAL RESOURCES

JOHN MORRIS Executive Managing Director Logistics & Industrial Services Lead

CURTIS HORNADAY Market Research Director Dallas Market

ASHLEY M ac PHERSON Marketing Director Dallas Market

CHRISTINE PEREZ Senior Communications Specialist Dallas Market

RAN HOLMAN Managing Principal D-FW Market Leader

CUSHMAN & WAKEFIELD | 5

INTRODUCTION BY THE NUMBERS

NATIONAL INDUSTRIAL SERVICES BY THE NUMBERS 15 C&W boasts the most tenured leasing brokers in the industry 650+ #1 250 Logistics & Industrial professionals in North America Top market share of U.S. Industrial leasing Offices in more than 200 global cities Over years +

DFW INDUSTRIAL SERVICES BY THE NUMBERS

16M

SF Class A Listings (Agency Team)

200+

40+ Collective years of experience in Dallas (Agency Team)

20 Total transactions in 2016 (Dallas Office) Over

Industrial professionals in our DFW office

6 | CUSHMAN & WAKEFIELD 6 | C & W I

PROLOGIS MESQUITE

COMPETITION

COMPETITION COMPETITIVE SET - NEW DEVELOPMENTS

1 2 3

4 5

7 8

10 | CUSHMAN & WAKEFIELD 10 | CUSH AN & WAKEFIEL

COMPETITION COMPETITIVE SET - NEW DEVELOPMENTS

Asking Rate ($SF/yr)

Map #

Developer / Owner Year Built

RBA (SF)

Available Space

Min Available Design Clear Height

DH Doors

Bldg. Depth

Column Spacing

Truck Court

Trailer Parking

Car Parking

TI Allowance ($/NRA SF)

Est. OPEX

Project

Location

Economics

Functionality

= - - Jupiter Miller Business Center Building 1A 1330 S Jupiter Rd Garland = - - Jupiter Miller Business Center Building 1B 1600 S Jupiter Rd Garland = - - Jupiter Miller Business Center Building 2 1720 S Jupiter Rd Garland

Langford Property Co / Barings Real Estate Advisers Langford Property Co / Barings Real Estate Advisers Langford Property Co / Barings Real Estate Advisers

Delivers Jun-18 218,400 218,400 54,600 Cross

130' & 230' shared

1 1

46 420'

52' x 50'

309

$4.75

$5.00

$1.67

Dock 36'

Delivers Jun-18 218,400 218,400 54,600 Cross

230' shared both

2 2

52 420'

52' x 50'

217

$4.75

$5.00

$1.67

Dock 36'

Delivers Jun-18 327,600 327,600 76,440 Cross

170' & 230' shared

3 3

68 420'

52' x 50'

366 +/- $4.75 +/- $5.00 $1.67

Dock 36'

Shiloh Business Center Building A (North) 1601 S Shiloh Rd Garland

- -

4 4

Huntington Delivers

350'

52' x 57'6" 130' & 193' shared

TBD

Mar-19 117,075 117,075 117,075 Cross

Dock 32'

Shiloh Business Center Building B (South) 1601 S Shiloh Rd Garland

- -

130' & 193' shared

5 5

Huntington Delivers

33 420'

52' x 50'

TBD

Mar-19 132,022 132,022 66,000 Cross

Dock 32'

- - + Garland Logistics Center 3800 Leon Rd Garland

IDI Gazeley 2017 494,000 378,959 83,000 Rear

96 310'

50' x 54'

130' - 185'

321

$4.25

$4.00

$1.32

Load 32'

- = = Exeter Buckner Building 3 S Buckner Blvd Dallas

Delivers Feb-19 162,800 162,800 40,000 Front

Exeter

30 260'

52' x 50'

130'-185'

110

$4.25

$4.00

$1.25

Load 32'

CUSHMAN & WAKEFIELD | 11

COMPETITION COMPETITIVE SET - NEW DEVELOPMENTS

1 2 3

4 5

7 8

12 | CUSHMAN & WAKEFIELD 12 | CUSHMAN & WAKEFIELD

COMPETITION COMPETITIVE SET - NEW DEVELOPMENTS

Asking Rate ($SF/yr)

Map #

Developer / Owner Year Built

RBA (SF)

Available Space

Min Available Design Clear Height

DH Doors

Bldg. Depth

Column Spacing

Truck Court

Trailer Parking

Car Parking

TI Allowance ($/NRA SF)

Est. OPEX

Project

Location

Economics

Functionality

- = = Exeter Buckner Building 4 S Buckner Blvd Dallas

Delivers Mar-19 230,300 230,300 40,000 Front

8 8

Exeter

46 260'

52' x 50'

130'-185'

114

$4.25

$4.00

$1.25

Load 32'

- - + Skyline Trade Center Building D 2200 Trade Center Dr Mesquite

9 9

IDI Logistics Delivers

105 400'

54' x 46'8" 130'-185'

283

$4.05

$4.00

$1.37

Oct-18 487,200 487,200 100,000 Cross

Dock 36'

- - - Intermodal Business Center I-45 & Wintergreen Rd Hutchins

Bradford

2017

120,960 120,960 120,960 Cross

38 280'

54' x 53'

135'

164

$4.95

$5.00

$1.50

Dock 28'-32'

- - + Interpoint Distribution Center I-45 & Fulghum Rd Wilmer

Skyhawk Partners

2017

349,969 349,969 100,000 Cross

84 420'

52' x 50'

135'-185'

170

$3.75

$4.00

$1.15

Dock 32'

CUSHMAN & WAKEFIELD | 13

COMPETITION COMPETITIVE SET - 2ND GENERATION BUILDINGS

14 | CUSHMAN & WAKEFIELD 14 | CUSH AN & WAKEFIEL

COMPETITION COMPETITIVE SET - 2ND GENERATION BUILDINGS

Asking Rate ($SF/yr)

Map #

Developer / Owner Year Built

RBA (SF)

Available Space

Min Available Design Clear Height

DH Doors

Bldg. Depth

Column Spacing

Truck Court

Trailer Parking

Car Parking

TI Allowance ($/NRA SF)

Est. OPEX

Project

Location

Economics

Functionality

- - + 10421-10427 Sanden Dr 10421-10427 Sanden Dr Dallas

1 1

Cobra Caps

2000 234,000 72,000 72,000 Front Load 30'

12 225'

40' x 45'

130'

0 Minimal

$3.85 Negotiable $1.60

- - + 1201 Big Town

148' north 130' south

2 2

1201 Big Town Blvd Dallas

Huntington 2007 508,500 208,750 98,750 Cross Dock 32'

18 400'

50' x 50'

200

$3.50 Negotiable

$1.24

Cabot SUBLEASE - Display Source Alliance Sublease

- - + Skyline Business Park Building 3 1371 S Town East Blvd Mesquite - - + Skyline Business Park Building 4 1100 Chase Rd Mesquite

3 3

2001

400,000 400,000 100,000 Cross Dock 30'

24 500'

50' x 44'

130'

TBD $3.50 Negotiable

$1.61

Clarion Partners

4 4

2001

258,448 68,300 68,300 Front Load 30'

275'

50' x 55'

140'

+/- 20 $3.95 Negotiable

$1.51

- - + Peachtree Distribution Center 510 N Peachtree Rd Mesquite

Cross Dock w/ Front Load Vacancy

Clarion Partners

2001

396,750 156,293 156,293

32'

26 260'

50' x 50'

120'-175'

+/- 23 +/- 102 $3.50 Negotiable

$1.54

CUSHMAN & WAKEFIELD | 15

COMPETITION OPEX ANALYSIS

Prologis Mesquite 1

Jupiter Miller Business Center

Shiloh Business Center

Garland Logistics Center

Exeter Buckner

5151 Samuell Blvd

1720 S Jupiter Rd

1601 S Shiloh Rd

3800 Leon Rd

S Buckner Blvd

Building Name

Mesquite

Garland

Dallas

Assumed $45 psf RP Value

Assumed $45 psf RP value

Property Owner

Prologis

Langford Property Company

Huntington

IDI

Exeter

Total Building SF

237,187

327,600

132,022

494,000

230,300

County

Dallas

City

Mesquite

Garland

Dallas

School District

Dallas ISD

Garland ISD

Dallas ISD

County Tax Rate

0.6567

City Tax Rate

0.6870

0.7046

0.7804

School District Tax Rate

1.2821

1.4600

1.2821

Combined Tax Rate

2.6258

2.8213

2.7192

Real Estate Value

$10,673,415

$14,742,000

$5,940,990

$22,230,000

$10,363,500

Real Property Tax

$280,265

$415,922

$167,615

$627,183

$281,807

Real Estate Estimated Taxes / SF

$1.18

$1.27

$1.22

16 | CUSHMAN & WAKEFIELD 16 | CUSH AN & WAKEFIEL

COMPETITION OPEX ANALYSIS

Prologis Mesquite 1

Skyline Distribution - D

Intermodal Business Center

Interpoint Distribution Center

5151 Samuell Blvd

2200 Trade Center Dr

I-45 & Wintergreen Rd

I-45 & Fulghum Rd

Building Name

Mesquite

Hutchins

Wilmer

Assumed $45 psf RP Value

Assumed $45 psf RP value

Property Owner

Prologis

IDI Gazeley

Bradford

Skyhawk Parnters

Total Building SF

237,187

487,200

120,960

349,969

County

Dallas

City

Mesquite

Hutchins

Wilmer

School District

Dallas ISD

Mesquite ISD

Dallas ISD

County Tax Rate

0.6567

City Tax Rate

0.6870

0.6825

0.5029

School District Tax Rate

1.2821

1.4600

1.2821

Combined Tax Rate

2.6258

2.8037

2.6213

2.4417

Real Estate Value

$10,673,415

$21,924,000

$5,443,200

$15,748,605

Real Property Tax

$280,265

$614,692

$142,682

$384,537

Real Estate Estimated Taxes / SF

$1.18

$1.26

$1.18

$1.10

CUSHMAN & WAKEFIELD | 17

PROLOGIS MESQUITE

STRATEGY & RECOMMENDATIONS

STRATEGY & RECOMMENDATIONS POTENTIAL LEASING SCENARIOS

SINGLE TENANT

MULTI-TENANT

CUSHMAN & WAKEFIELD | 19

STRATEGY & RECOMMENDATIONS SINGLE TENANT PRO-FORMA

PROLOGIS PARK MESQUITE

MESQUITE, TEXAS

SINGLE TENANT PRO-FORMA ASKING RATE $4.75

SITE PLAN - BUILDING 3

HIGHWAY I-30/ TX-80

BUILDING 3 DATA LAND AREA BUILDING REA COVERAGE

STARTING RATE $4.50 612,116 S.F. | 14.05 AC. 237,187 S.F. 38.7% 32' 192 SPACES TI ALLOWANCE $5.00

50 PARKING SPACES

18 PARKING SPACES

8'-0" 62'-0" 56'-9"

12 PARKING SPACES

56 PARKING SPACES

CLEAR HEIGHT AUTO PARKING 9'x10' DOCK DOORS 12'x14' DRIVE-IN DOORS TRAILER STORAGE

TERM 5-10 Year 39 POSITIONS 4 POSITIONS 65 STALLS

ANNUAL INCREASES 2.50%

FULL BUILDING SPECS RBA 237,187

BUILDING 3 237,187 S.F. (39) 9'x10' O.H. DOORS (4) 12'x14 O.H. DOORS W/ RAMPS (192) PARKING SPACES (65) TRAILER STALLS

39 TRAILERS

CLEAR HEIGHT 32' = OWNED BY PROLOGIS/LEASED = OWNED BY PROLOGIS/AVAILABLE = OWNED BY PROLOGIS/PLANNED

(8) BAYS @ 56'-0" + (1) BAYS @ 52'-0" = 500'-0"

26 TRAILERS

DOCK HIGH DOORS 39 = DOCK POSITION = DOCK POSITION W/ LEVELER = FUTURE DOCK POSITION = DRIVE-IN DOOR DRIVE IN DOORS 4 NOTE: THIS CONCEPTUAL PLAN IS FOR MARKETING PURPOSES ONLY AND HAS BEEN PREPARED BASED ON PRELIMINARY AVAILABLE SITE INFORMATION DEEMED RELIABLE. ALL DIMENSIONS AND AREA CALCULATIONS ARE COLUMN SPACING 56' x 47'6" TRUCK COURT DEPTH 130'-185' SUBJECT TO VERIFICATION BY A PROFESSIONAL ENGINEER FOR COMPLIANCE WITH ALL FEDERAL, STATE AND LOCAL REGULATIONS.

(2) BAYS @ 60'-0" + (8) BAYS @ 47'-6" = 500'-0"

55'-0"

130'-0"

55'-0"

5 PARKING SPACES

4 PARKING SPACES

BUILDING DEPTH 500'

23 PARKING SPACES

24 PARKING SPACES

CAR PARKS 192

SITE PLAN

2021 McKinney Avenue, Suite 1050 Dallas, Texas 75201 T (972) 884-9292 | F (972) 488-9848 www.prologis.com

TRAILER STORAGE 65

NORTH

20'

40'

80'

160'

04-02-18

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20 | CUSHMAN & WAKEFIELD 20 | C S & W I

STRATEGY & RECOMMENDATIONS MULTI TENANT PRO-FORMA (HALF BUILDING)

MULTI TENANT PRO-FORMA SMALLEST FIRST DEAL 112,000 SF on western half

WESTERN HALF SPECS RBA 112,000

ASKING RATE $4.75

CLEAR HEIGHT 32'

STARTING RATE $4.60

DOCK HIGH DOORS 18

TI ALLOWANCE $5.00

DRIVE IN DOORS 2

TERM 5-10 Year

COLUMN SPACING 56' x 47'6"

PROLOGIS PARK MESQUITE

ANNUAL INCREASES 2.50%

MESQUITE, TEXAS

TRUCK COURT DEPTH 130'-185'

SITE PLAN - BUILDING 3

612,116 S.F. | 14.05 AC. 237,187 S.F. 38.7% 32' 192 SPACES CAR PARKS 84 TRAILER STORAGE 26 BUILDING DEPTH 250'

HIGHWAY I-30/ TX-80

BUILDING 3 DATA LAND AREA BUILDING AREA COVERAGE

50PARKINGSPACES

18PARKINGSPACES

8'-0" 62'-0" 56'-9"

12PARKINGSPACES

56PARKINGSPACES

CLEAR HEIGHT AUTO PARKING 9'x10' DOCK DOORS 12'x14' DRIVE-IN DOORS TRAILER STORAGE

39 POSITIONS 4 POSITIONS 65 STALLS

EASTERN HALF SPECS RBA 125,000

CLEAR HEIGHT 32'

DOCK HIGH DOORS 21

BUILDING 3 237,187 S.F. (39)9'x10'O.H.DOORS (4) 12'x14O.H.DOORSW/RAMPS (192)PARKINGSPACES (65)TRAILERSTALLS

39TRAILERS

= OWNED BY PROLOGIS/LEASED = OWNED BY PROLOGIS/AVAILABLE = OWNED BY PROLOGIS/PLANNED DRIVE IN DOORS 2

(8)BAYS@ 56'-0"+ (1)BAYS@ 52'-0"=500'-0"

26TRAILERS

COLUMN SPACING 56' x 47'6"

= DOCK POSITION = DOCK POSITION W/ LEVELER = FUTURE DOCK POSITION = DRIVE-IN DOOR

(2)BAYS@ 60'-0"+ (8)BAYS@ 47'-6"= 500'-0"

55'-0"

130'-0"

55'-0"

TRUCK COURT DEPTH 130'-185'

NOTE: THIS CONCEPTUAL PLAN IS FOR MARKETING PURPOSES ONLY AND HAS BEEN PREPARED BASED ON PRELIMINARY AVAILABLE SITE INFORMATION DEEMED RELIABLE. ALL DIMENSIONS AND AREA CALCULATIONS ARE SUBJECT TO VERIFICATION BY A PROFESSIONAL ENGINEER FOR COMPLIANCE WITH ALL FEDERAL, STATE AND LOCAL REGULATIONS. BUILDING DEPTH 250' CAR PARKS 108

5PARKINGSPACES

4PARKINGSPACES

TRAILER STORAGE 39

23PARKINGSPACES

24PARKINGSPACES

CUSHMAN & WAKEFIELD | 21

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STRATEGY & RECOMMENDATIONS MULTI TENANT PRO-FORMA (QUARTER BUILDING)

MULTI TENANT PRO-FORMA

SMALLEST FIRST DEAL 56,000 SF on south-east corner

ASKING RATE $4.75

STARTING RATE $4.65

HIGHWAY I-30/ TX-80

TI ALLOWANCE $6.00

50 PARKING SPACES

18 PARKING SPACES

8'-0" 62'-0" 56'-9"

TERM 5-10 Year

12 PARKING SPACES

56 PARKING SPACES

ANNUAL INCREASES 3.00%

BUILDING 3 237,187 S.F. (39) 9'x10' O.H. DOORS (4) 12'x14 O.H. DOORS W/ RAMPS (192) PARKING SPACES (65) TRAILER STALLS

39 TRAILERS

(8) BAYS @ 56'-0" + (1) BAYS @ 52'-0" = 500'-0"

26 TRAILERS

(2) BAYS @ 60'-0" + (8) BAYS @ 47'-6" = 500'-0"

55'-0"

130'-0"

55'-0"

5 PARKING SPACES

4 PARKING SPACES

23 PARKING SPACES

24 PARKING SPACES

22 | CUSHMAN & WAKEFIELD 22 | S & W KEFIEL

SITE PLAN

uite 3 Spec\568-Mesquite 3 Spec 040218.dwg, 4/2/2018 4:33:34PM,PDF.pc3

STRATEGY & RECOMMENDATIONS MULTI TENANT PRO-FORMA (QUARTER BUILDING)

SE CORNER SPECS RBA 56,000

SW CORNER SPECS RBA 56,000

CLEAR HEIGHT 32'

DOCK HIGH DOORS 9

DRIVE IN DOORS 1

COLUMN SPACING 56' x 47'6"

TRUCK COURT DEPTH 130'-185'

BUILDING DEPTH 250'

CAR PARKS 28

TRAILER STORAGE +/- 20

TRAILER STORAGE +/- 13

NE CORNER SPECS RBA 62,500

NW CORNER SPECS RBA 56,000

CLEAR HEIGHT 32'

DOCK HIGH DOORS 12

DOCK HIGH DOORS 9

DRIVE IN DOORS 1

COLUMN SPACING 56' x 47'6" + one bay @ 52'w

COLUMN SPACING 56' x 47'6"

TRUCK COURT DEPTH 130'-185'

BUILDING DEPTH 250'

CAR PARKS 80

CAR PARKS 56

TRAILER STORAGE +/- 20

TRAILER STORAGE +/- 13

CUSHMAN & WAKEFIELD | 23

PROLOGIS MESQUITE

MARKET OVERVIEW

MARKET OVERVIEW OVERALL DFW MARKET SNAPSHOT

OBSERVATIONS & TRENDS

OVERALL VACANCY

NEW SUPPLY

9.0%

Historical Average = 12.2 MSF

Historical Average = 8.4%

• DFW Industrial Market is one of the strongest in the US as a top four choice for national logistics distribution • DFW #1 in US job growth and #2 in US population growth • Despite the record-high 27.4 MSF of new inventory delivered in 2017, the vacancy remains low at 7.0% • Overall demand remained elevated with over 26 MSF absorbed in 2017 • Average asking rates should increase throughout 2018, due to high demand and the abundance of new, well- equipped, premium construction stock

8.0%

7.0%

Millions

6.0%

5.0%

2003

2006

2009

2012

2015

2018 YTD

Q1 2013

Q1 2014

Q1 2015

Q1 2016

Q1 2017

Q1 2018

Delivered

Historical Average

Overall Vacancy Rate

Historical Average

MARKET STATS

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Q1 2018

INVENTORY

579.2 MSF 602.1 MSF 613.4 MSF 614.9 MSF 616.9 MSF 619.0 MSF 626.4 MSF 643.5 MSF 663.1 MSF 684.3 MSF 713.5 MSF 717.4 MSF

OVERALL NET ABSORPTION

16.6 MSF 10.4 MSF -2.7 MSF

2.9 MSF

12.5 MSF

12.1 MSF

17.4 MSF

15.6 MSF 20.2 MSF 25.2 MSF 23.7 MSF

3.2 MSF

OVERALL VACANCY

8.5%

10.3%

12.4%

12.1%

10.4%

8.7%

7.0%

7.1%

6.8%

6.0%

6.5%

6.4%

COMPLETIONS

12.8 MSF 22.9 MSF

11.3 MSF

1.5 MSF

2.0 MSF

2.1 MSF

7.4 MSF

17.1 MSF

19.6 MSF

21.2 MSF 29.2 MSF

3.1 MSF

UNDER CONSTRUCTION

19.7 MSF

10.9 MSF

1.5 MSF

1.4 MSF

2.0 MSF

4.0 MSF

13.9 MSF

16.6 MSF 20.3 MSF 26.6 MSF 19.3 MSF 20.2 MSF

NOTE: Beginning in 2014, Cushman &Wakefield Research includes Fort Worth Industrial Market Data.

CUSHMAN & WAKEFIELD | 25

MARKET OVERVIEW MESQUITE SUBMARKET SNAPSHOT

OBSERVATIONS & TRENDS • Higher percentage of owner/tenant users • Diverse product type ranging from multi-tenant office showroom/flex and manufacturing space to warehouse distribution • Strong Labor Pool

NET ABSORPT I ON/VACANCY NET ABSORPTION/ VACANCY

COMPLET I ONS /NET ABSORPT I ON COMPLETIONS / NET ABSORPTION

0.8

14.0%

0.5

0.8

0.4

0.6

12.0%

0.6

Millions

0.4 Millions

Millions

0.4

10.0%

0.4

0.3

0.2

8.0%

0.2

0.3

0.2

0.0

6.0%

0.2

COMPLETIONS

(0.2)

-0.2

4.0%

NET ABSORPTION

0.1

(0.4)

-0.4

2.0%

0.1

0.0

(0.6)

-0.6

0.0%

2012

2013

2014

2015

2016

2017

Q1 2018

2012

2013

2014

2015

2016

2017

Q1 2018

COMPLETIONS

OVERALL NET ABSORPTION

• Proximity to Union Pacific Intermodal • Adjacent to new FedEx Ground hub

Overall Net Absorption

Overall Vacancy Rate

MARKET STATS

2010

2011

2012

2013

2014

2015

2016

2017

Q1 2018

INVENTORY

17,222,163

17,620,325

17,646,080

17,997,954

OVERALL NET ABSORPTION

329,743

700,928

612,735

542,836

401,271

(53,877)

(177,433)

657,499

(440,860)

OVERALL VACANCY

19.7%

15.6%

12.0%

10.9%

8.7%

9.0%

10.1%

8.2%

10.9%

COMPLETIONS

398,162

25,755

351,874

UNDER CONSTRUCTION

398,162

25,755

351,874

877,230

1,364,430

26 | CUSHMAN & WAKEFIELD 26 | C S & W I

MARKET OVERVIEW FIRST GENERATION VACANCIES

Completed Construction

588,262

SUM OF AVA I LABLE SPACE

601,141

41,324

Building Size (sf) 100,000-249,999 250,000-499,999 500,000-749,999

750,000+

Grand Total 588,262 636,488 41,324 82,289 378,959 3,010,566

82,289

Alliance

588,262

378,959

636,488

DFW Airport East Ft Worth Far North/I-35

341,693

294,795

41,324

82,289

Garland

378,959

GSW 643,362

2,367,204

N Stemmons/Valwood

50,387

3,010,566

North Ft Worth Pinnacle/Turnpike

187,000 376,718 537,034 43,598 2,211,694

202,000

164,721

553,721 376,718

South Dallas

2,067,747

1,280,350

4,455,210

8,340,341

South Ft Worth

557,543

601,141

Grand Total

5,959,959

2,033,333

4,455,210

14,660,196

*vacancy totals of first generation buildings from 2015-2017

COUNT OF AVA I LABLE SPACE ( VACANCY WI TH I N RANGE )

8,340,341

Building Size (sf) 100,000-249,999 250,000-499,999 500,000-749,999

750,000+

Grand Total

Alliance

50,387

DFW Airport East Ft Worth Far North/I-35

1 1

1 1 1

553,721

Garland

376,718

GSW 7

N Stemmons/Valwood

North Ft Worth Pinnacle/Turnpike

3 2

2 4

South Dallas

5 2

South Ft Worth

Allen/McKinney Far North/I-35 Mesquite Pinnacle/Turnpike Redbird

Alliance Garland N Stemmons/Valwood South Dallas East Ft. Worth

DFW Airport GSW North Ft Worth South Ft Worth Frisco

Grand Total

*vacancy totals of first generation buildings from 2015-2017

CUSHMAN & WAKEFIELD | 27

MARKET OVERVIEW UNDER CONSTRUCTION

Total

SUM OF AVA I LABLE SPACE

84,948

202,270

323,845

Building Size (sf) 100,000-249,999 250,000-499,999 500,000-749,999

750,000+

Grand Total

Allen/McKinney

202,270 234,277 938,643 685,897 393,100 234,904 652,714 100,360

202,270

Alliance

628,861

1,089,642 2,022,240

1,952,780 5,817,143 1,013,497 2,157,693 1,463,500

DFW Airport

1,582,260 327,600 1,168,116 487,200

1,274,000

1,952,780

Garland

2,266,259

GSW 465,117

524,460

100,360

Mesquite

583,200

N Stemmons/Valwood

234,904

North Ft Worth

2,035,384

632,670

750,000

Redbird

100,360

South Dallas

1,221,612

1,044,647

2,266,259

South Ft Worth

323,845 4,231,127

323,845

2,035,384

Grand Total

4,826,707

4,353,272

4,156,529

17,567,635

234,904

5,817,143

COUNT OF AVA I LABLE SPACE ( VACANCY WI TH I N RANGE )

Building Size (sf) 100,000-249,999 250,000-499,999 500,000-749,999

750,000+

Grand Total

Allen/McKinney

1 1

Alliance

2 5

1,463,500

DFW Airport

6 4

Garland

5 7 4

1,633,233 2,157,69

GSW 3

1 1

Mesquite

N Stemmons/Valwood

North Ft Worth

764,400 1,013, 97

Redbird

South Dallas

3 2

/McKinney

Alliance

DFW Airport

Garland

GSW

Mesquite

South Ft Worth

mmons/Valwood North Ft Worth

Redbird

South Dallas Alliance Garland N Stemmons/Valwood South Dallas East Ft. Worth

South Ft Worth DFW Airport GSW North Ft Worth South Ft Worth Frisco

Frisco

Allen/McKinney Far North/I-35 Mesquite Pinnacle/Turnpike Redbird

Frisco

Grand Total

28 | CUSHMAN & WAKEFIELD 28 | C S & W KEFIEL

MARKET OVERVIEW RECENT LEASE COMPS

Trans Date

Start Date

Building Name / Project

RBA (SF)

Deal Type

Term (Mos)

Free (Mos)

Starting Rent

Effective Rate

TI Allowance

Clear Height

Yr Built

Building Address

City

Tenant

Landlord Leased SF

Yr Built Clear Height

Barrett Distribution IDI Logistics 115,041 494,000 New Lease

Apr-18 Jul-18 Garland Logistics Center 3800 Leon Rd

Garland

$4.12

$4.09

$7.50

2017

30 2017

Daryl Flood Logistics

Feb-18 May-18 DCT Miller Rd

10665 Sanden Dr

Dallas

DCT

72,722 270,016 New Lease

$4.05

$4.10

$6.50

2017

28 2009

3502 Regency Crest Dr

STAG Industrial Private Investor

Aug-17 Feb-18 Gateway East Distribution Center

Garland Zobele USA Inc

164,914 164,914 New

$4.27

$5.50

1998

32 2017

Lease 102

May-17 Oct-17 2660 Market

2660 Market St

Garland ABC Supply

87,780 87,780 New Lease

126 6 $5.65

$6.03

1991

30 2017

Northgate Distribution Center East Building Miller Road Business Center Building 200

3750 Regency Crest Dr

AZ Partsmaster

Jan-17 Mar-17

Garland

Huntington 67,014 134,027 New Lease

125

$4.20

$4.36

$7.00

2017

32 2017

Sealy & Company 52,500 84,000 Renewal

Jan-17 Jun-17

3540 W Miller Rd

Garland

McNichols

84 0 $4.30

$4.64

$3.75

2002

30 2017

CUSHMAN & WAKEFIELD | 29

PROLOGIS MESQUITE

ACTIVE LISTINGS

ACTIVE LISTINGS CURRENT LEASING PORTFOLIO

Building / Project Name

Construction Status

Available

DH Doors

Bldg Depth

Column Spacing

Truck Court

Trailer Parks

Quoted Rate Quoted TI

Quoted OPEX

Building Photo

Client / Owner Submarket

Address

RBA (SF)

SF Minimum SF Clear Height

Cedar Valley Dr & Dallas Ave Lancaster

Midpoint Logistics Building 1

Panattoni / MetLife South Dallas

Planned 1,570,920 1,570,920 1,570,920 BTS 328 570'

BTS 190'

521

TBD TBD TBD

Cedar Valley Dr & Dallas Ave Lancaster

Midpoint Logistics Building 3

Panattoni / MetLife South Dallas

Planned 1,007,760 1,007,760 1,007,760 BTS 204 570'

BTS 190'

259

TBD TBD TBD

Cedar Valley Dr & Dallas Ave Lancaster

Midpoint Logistics Building 1A Option

Panattoni / MetLife South Dallas

Planned 769,500 769,500 769,500 BTS 164 570'

54' x 50'

190'

260 TBD TBD TBD

Cedar Valley Dr & Dallas Ave Lancaster

Midpoint Logistics Building 1B Option

Panattoni / MetLife South Dallas

Planned 769,500 769,500 769,500 BTS 164 570'

54' x 50'

190'

260 TBD TBD TBD

Cedar Valley Dr & Dallas Ave Lancaster

Midpoint Logistics Building 4

Panattoni / MetLife South Dallas

Planned 340,200 340,200 340,200 BTS 86 420'

BTS 190'

113

TBD TBD TBD

SouthLink Building 1

Under Construction 1,044,647 1,044,647 1,044,647 40'

Hines

South Dallas Cleveland Rd Dallas

184 620'

54' x 48'

190'

209 $3.65 $4.00 $1.07

SouthLink Building 2

Hines

South Dallas Cleveland Rd Dallas

Planned 421,200 421,200 421,200 36'

450'

52' x 55'

190'

142

TBD TBD TBD

Liberty Park Mountain Creek Building 1

Liberty Property Trust

3636 Mountain Creek Pkwy Dallas

Redbird

Planned 953,532 953,532 953,532 BTS 152 640'

54' x 50'

190'

168

TBD TBD $1.43

CUSHMAN & WAKEFIELD | 31

ACTIVE LISTINGS CURRENT LEASING PORTFOLIO

Building / Project Name

Construction Status

Available

DH Doors

Bldg Depth

Column Spacing

Truck Court

Trailer Parks

Quoted Rate Quoted TI

Quoted OPEX

Building Photo

Client / Owner Submarket

Address

RBA (SF)

SF Minimum SF Clear Height

Liberty Park Mountain Creek Building 2

Liberty Property Trust

3584 Mountain Creek Pkwy Dallas

Redbird

Planned 397,440 397,440 397,440 BTS 78 470'

54' x 50'

190'

TBD TBD $1.43

3535 N Houston School Rd Dallas

I-20 Commerce Center

Copeland Commercial South Dallas

Completed 900,043 900,043 >500,000 36'

156 600'

56' x 48'

185'

202 $3.65 $4.00 $1.12

2801 N. Houston School Rd. Lancaster

I-35 Logistics Crossing A

Crow Holdings

Under Construction 610,806 610,806 300,000 36'

South Dallas

124 520'

56' x 50'

185'

135

$3.65 $4.00 $1.17

2801 N. Houston School Rd. Lancaster

I-35 Logistics Crossing B

Crow Holdings

Under Construction 610,806 610,806 300,000 36'

South Dallas

122 520'

56' x 50'

185'

143 $3.65 $4.00 $1.17

Sandy Lake Distribution Center

944 W Sandy Lake Rd Coppell

Clarion DFW Airport

Existing 604,800 604,800 604,800 32'

95 540'

52' x 42'

190'

120 $3.65 Negotiable $1.23

3434 Altamoore Dr Dallas

DalParc Business Center

L'Oreal

South Dallas

Existing 513,975 47,988 47,988

36'

160'

60' x 50'

135'

Available $3.75 Negotiable TBD

2810 Danieldale Rd Lancaster

First 20/35 Logistics Center

First Industrial

South Dallas

Planned 421,200 421,200 150,000 36'

88 520'

54' x 50 190'

105

TBD TBD TBD

5220 S Westmoreland Rd Dallas

Executive Distribution Center

Brookfield Redbird

Existing 345,600 151,200 151,200 30'

44 400'

54' x 50'

130'

Available $3.25 Negotiable $1.30

32 | CUSHMAN & WAKEFIELD 32 | C S & W EFIEL

ACTIVE LISTINGS CURRENT LEASING PORTFOLIO

Building / Project Name

Construction Status

Available

DH Doors

Bldg Depth

Column Spacing

Truck Court

Trailer Parks

Quoted Rate Quoted TI

Quoted OPEX

Building Photo

Client / Owner Submarket

Address

RBA (SF)

SF Minimum SF Clear Height

Liberty Park GSW North Building 2

Liberty Property Trust

951 Valley View Ln Irving

GSW

Completed 341,442 115,553 50,000 32'

20 420'

54' x 50 180'

$3.85 $4.00 $1.55

Liberty Park GSW North Building 3

Liberty Property Trust

GSW 5430 FAA Blvd Irving

Completed 195,931

32,775 32,775

28'

54 210'

52' x 50'

130'

0 $4.75 $6.00 $1.73

Liberty Park GSW North Building 1

Liberty Property Trust

Frye Rd & Valley View Ln Irving

Under Construction 172,120 172,120 50,000 36'

GSW

40 260'

52' x 50'

180'

34 $4.75 $6.00 $1.73

Crow Holdings / Goldman Sachs Crow Holdings / Goldman Sachs

MacArthur Crossing Building A

Pinnacle/ Turnpike

2615 Gifford St Grand Prairie

Under Construction 322,215 322,215 100,000 32'

130'- 185'

420'

52' x 50'

$3.95 $4.00 $1.30

MacArthur Crossing Building B

Pinnacle/ Turnpike

2535 Gifford St Grand Prairie

Under Construction 187,518 187,518 80,000 32'

130'- 180'

40 260'

52' x 50'

$4.25 $5.00 $1.30

Johnson Development Associates

2800 Valley View Lane Irving

Under Construction 294,795 294,795 125,000 32'

Valley View DFW

DFW Airport

270'

54' x 50'

185'

$4.50 $5.00 $1.47

Exeter Property Group

14325 Gillis Road, Farmers Branch

N. Dallas / Metropolitan

14325 Gillis

Existing 175,300 175,300 175,300 24'

47 330'

52' x 50'

180'

$4.65 Negotiable TBD

Exeter Property Group

14327 Gillis Road, Farmers Branch

N. Dallas / Metropolitan

14327 Gillis

Existing

57,546 57,546 57,546 24'

190'

180'

20 $4.65 Negotiable TBD

360 N Frontage Rd. Ft. Worth

Under Construction 117,481

Centreport VII

CentrePort GSW

85,475 25,000 32'

180'

56' x 52'

132'

0 $4.75 $5.00 $1.72

CUSHMAN & WAKEFIELD | 33

ACTIVE LISTINGS CURRENT LEASING PORTFOLIO

Building / Project Name

Construction Status

Available

DH Doors

Bldg Depth

Column Spacing

Truck Court

Trailer Parks

Quoted Rate Quoted TI

Quoted OPEX

Building Photo

Client / Owner Submarket

Address

RBA (SF)

SF Minimum SF Clear Height

Meacham Commerce Center Building 1 - Option A Meacham Commerce Center Building 1 - Option B Meacham Commerce Center Building 1 - Option C

I-35 & Meacham Blvd, Ft. Worth

McCormack Commercial

South Fort Worth

Planned 792,920 792,920 792,920 BTS 44 620 BTS 190'

259

TBD TBD TBD

I-35 & Meacham Blvd, Ft. Worth

McCormack Commercial

South Fort Worth

Planned 1,000,000 1,000,000 1,000,000 BTS 186 620'

BTS 190'

342

TBD TBD TBD

I-35 & Meacham Blvd, Ft. Worth

McCormack Commercial

South Fort Worth

Planned 1,418,560 1,418,560 1,418,560 BTS 273 620'

BTS 190'

303

TBD TBD TBD

Meacham Commerce Center Building 2

I-35 & Meacham Blvd, Ft. Worth

McCormack Commercial

South Fort Worth

Planned 503,880 503,880 503,880 BTS 140 510 BTS 185'

133

TBD TBD TBD

Meacham Commerce Center Building 3

I-35 & Meacham Blvd, Ft. Worth

McCormack Commercial

South Fort Worth

Planned 283,920 283,920 283,920 BTS 33

420 BTS 185'

TBD TBD TBD

34 | CUSHMAN & WAKEFIELD 34 | C & W I

PROLOGIS MESQUITE

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