DALLAS – Prestige Group of Texas has expanded and extended its global logistics division's lease in DFW Corporate Center 1, ending a seven-month search to enlarge a regional distribution hub by relocating within the class A project.
Pilot Freight Services will transition to 62,000 sf by the end of the first quarter, increasing its operating space by 19,500 sf with a new long-term lease. The Pennsylvania-based logistics company has been a tenant since spring 2008 at 2611 Regent Blvd. in Dallas, a location with Foreign Trade Zone perks in DFW Airport International Park.
"We looked at three or four options. This was the best option because of the timing and their relationship with the landlord," says Joe Santaularia, vice president of Dallas-based Bradford Commercial Real Estate Services.
The 256,500-sf distribution center is owned by ProLogis Targeted US Logistics Fund LP, which acquired the property during the course of Pilot Freight's original lease. The ownership change opened the door to new lease negotiations.
ProLogis was represented by in-house broker Mitch Pruitt and Steve Koldyke of CBRE Inc. Santaularia's tenant rep partner on the account is Dallas broker Todd Lambeth.
Pilot Freight Services is the largest privately held U.S. freight forwarder in operation. It has more than 75 locations in North America and an international network of overseas partners, including distribution hubs in Western Europe and offices in the Netherlands and Spain.
February 28, 2014