WILMER - Construction has started on a half-billion-dollar business park that is one of the largest projects yet in the booming I-45 corridor south of Dallas.
Texas-based Port Logistics Realty is teaming up with a unit of Mitsubishi to build the 530-acre development on the east side of I-45.
The developers bought the land in Wilmer two years ago for the project and have been working on plans for the business park, which will ultimately have 9 million sf of buildings.
The first two speculative warehouse buildings in the new Southport Logistics Park will contain 1.1 million sf and will be completed next year.
The developers are spending $22 million to put in roads, utilities and do site work for the project.
Only about 40 people will work at the new high-tech complex when it opens in 18 months.
The Southern Dallas County real estate market along I-35 and I-20 is the busiest industrial building district in North Texas. More than 5 million sf of industrial construction is underway in the area.
See picture of Southport Logistics Park.
Click to see 1Q 2015 DFW Industrial CBRE Overview.
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