CT Realty, which just delivered Stadium Logistics Center in Irving, Texas, in September 2021, has announced that the approximately 339,400-square-foot industrial facility has already been claimed in its entirety. CT Realty signed Total Office Solutions to a 10-year lease agreement to occupy the property for its headquarters before construction of the more than $30 million, Dallas-area project had reached completion.
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CT Realty commenced development of Stadium Logistics just one year ago in September 2020, after having acquired an approximately 18.5-acre infill site with 70 feet of frontage along Highway 183 for the project from NCH Corp. Carrying the address of 2201 Chemsearch Blvd., the new facility sits within the heart of the DFW Metroplex, within 10 miles of Dallas-Fort Worth International Airport and 6 miles of downtown Dallas.
Stadium Logistics was a speculative development, but the lease-up prior to delivery comes as no big surprise to CT Realty. “The DFW market has experienced a high level of activity for the past several years now, and with a location as strong as ours we recognized the chance to lease the building before completion was strong,” James “Watty” Watson, managing partner at CT Realty, told Commercial Property Executive.
For Total Office Solutions, a leading commercial moving and office furniture sales firm, the lease agreement marks a consolidation and expansion of the family-owned business operations from multiple locations across the Dallas-Fort Worth area, including its current headquarters at 1473 Terre Colony Court in Dallas. The company’s new home at Stadium Logistics will also feature a furniture sales showroom, as well as dedicated areas for client storage and hotel project fulfillment, and space for furniture repair, upholstery and cleaning.
Total Office Solutions relied on Robert Deptula and Collin Rock at Transwestern for representation in the lease transaction at Stadium Logistics, while CT Realty depended on the services of Craig Jones and Randy Touchstone of JLL.
The big picture
The Stadium Logistics project is just one part of a major venture that CT Realty undertook more than a decade ago. In 2010, the company embarked on a nationwide, large-scale logistics investment and development strategy, with a focus on the DFW Metroplex. The company, which has been successful in its pursuit over the years with such projects as the 4.4 million-square-foot Agua Mansa Commerce Park in Southern California’s high-demand Inland Empire, could not have known how timely its endeavor would prove.
“Our investment strategy of supplying large-scale logistics buildings to major population centers has only been fortified during the pandemic, as the demand for purchasing goods online has spiked beyond an already steep year-over-year trajectory,” Watson said. “This has been even more prevalent in the DFW Metroplex due to the influx of new residents.”