FORT WORTH – KT&G USA Corp., a Korea-based conglomerate, has signed a 10-year leas
e to house its U.S. headquarters and distribution center in 72,800 sf of brand-new office/warehouse space in north Fort Worth.
KT&G, the world's fifth largest tobacco company, will be the first tenant in Fossil Creek Crossing at 5501 Sandshell Dr., a 213,089-sf, class A project fronting Interstate 35W. The U.S. hub is expected to be fully operational within six weeks
"There were several driving factors in KT&G's leasing decision, one of which was the timing of Fossil Creek Crossing's completion," says Nick Talley
, senior vice president and managing partner in the Fort Worth office of Bradford Commercial Real Estate Services
Talley's site search for KT&G was focused on Foreign Trade Zone-designated properties, of which five made the short list. "Fossil Creek Crossing's freeway exposure was a big deal for my client," he says. "It also fit KT&G's distribution plan better than the FTZ projects closer to DFW International Airport."
The company will build out a 2,200-sf headquarters office and use the 70,600-sf balance of the end cap as its only distribution center in the nation. A large KT&G USA logo on the side of the building will be clearly visible from the freeway.
The cross-dock warehouse project, delivering about seven months ago, features 32-foot clear height, sprinkler system, 44 dock-high doors, two drive-in bays, 130 parking spaces and 30 truck stalls. The location offers direct freeway access for trucking goods in all geographical directions and is strategically positioned close to DFW International and Fort Worth Alliance airports. J. Scott Moore, Bob Scully and Brice Wells of CBRE Inc. represented the landlord, Fossil Creek Owner LLC.
KT&G was established in 1899 as an Imperial agency for cigarette and ginseng production. Its iconic brand portfolio includes ESSE, Davidoff, RAISON, BOHEM, The One, THIS PLUS, Timeless TIME, Carnival and Cima. The company develops and distributes ginseng plant seeds in addition to tobacco products, which include an e-cigarettes line. It also is involved in real estate and manufacturing of medical equipment and biotechnology-related products. The USA division's chief financial officer plans to continue leasing a small office in Plano, Texas.
April 12, 2019