MetLife and Panattoni Announce New Build-to-Suit Project in South Dallas
Friday, December 11th 2015
DALLAS, TX – JLL awarded leasing assignment of 250-acre master-planned industrial park. On behalf of a joint venture partnership between MetLife Real Estate Investors and Panattoni Development Company, LLC, JLL today announced MidPoint Logistics Center, a 250-acre master-planned industrial development located at Dallas Avenue and I-20 in Lancaster, Texas. The multi-phase, build-to-suit project has planned four buildings totaling 3.9 million square feet, with tenant accommodations ranging from 340,200 square feet to 1.6 million square feet.
JLL’s Managing Director Terry Darrow, Executive Vice President Kurt Griffin and Senior Vice President Nathan Orbin are leasing and marketing the development.
“MidPoint Logistics Center is ideally located at the exchange of three major freeways, just off I-20 between I-35 and I-45, and it provides a strategic logistical advantage to distribution users wanting to service local, national and international markets,” said Griffin.
“We are excited to partner with a great team in Panattoni and MetLife,” said Orbin. “MidPoint Logistics Center is well-positioned to accommodate the big box user demand in the Dallas-Fort Worth market.”
“Our goal is to develop first-class assets for the industrial community that are not only relevant to today’s logistics trends, but will continue to meet future demands,” said Pannatoni Development Partner Rob Riner. “At this point we’ve truly refined our programmatic investment strategy to ensure that our joint ventures are successful from day one.”
Since 2014, MetLife and Panattoni have invested in 14 joint venture projects totaling over 8.8 million square feet throughout the United States.
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About Panattoni Development Company
Founded in 1986, Panattoni Development Company, Inc. is one of the largest privately held, full-service development companies in the world. Panattoni operates from 24 offices in the United States, Canada and Europe. Since inception, Panattoni has developed more than 200 million square feet of space including more than 65 million square feet of build-to-suit projects. www.Panattoni.com.
About MetLife Investments
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.