Lewisville to house distribution center

LEWISVILLE – Industrial Developments International (IDI) has closed on a 50/50 joint venture with Industrial Income Trust for the development of the 529,155-sf Valley Parkway Distribution Center.

Construction of the new building is estimated at $14.1 million, according to state filings.

The facility will be located northeast of DFW Airport on Valley Pkwy. and Spinks Rd. The firm expects to have the new warehouse complete by August 2013.

“Valley Parkway Distribution Center will be located in one of the most sought after submarkets for tenants, developers and institutional investors,” said John Leinbaugh, vice president of leasing for IDI’s Dallas market office.