Park West CC(1)-CS 890908FOR IMMEDIATE RELEASE
CONTACT: Richard Toth
214/761-1440
PRENTISS
INDUSTRIAL
September 8,
PROPERTIES STARTS ITS FIRST
BUILDING IN DALLAS-FORT WORTH
1989
DALLAS,TX. -- Prentiss Properties Limited, Inc., one of the
nation's largest commercial real estate firms, today announced
start of its first industrial building in the Dallas-Fort Worth
area. Prentiss Properties will develop a 140,000 square foot
warehouse-office structure in newly purchased Park West Commerce
Center just northeast of DFW International Airport.
Construction of the single-story building has begun on a
seven-acre site at~°rt Parkway and Airline Drive~hjust north
/
of LHJ (IH-635) F~.e~e~a_g__and west of Belt L~ity of
Coppell, Dallas County. Completion is scheduled this fall on the
precast concrete
or more tenants.
Hill & Wilkinson.
structure which is designed to accommodate one
HMBH, Dallas, is the architect; contractor is
Financing is by First Chicago.
(MO~J~)
Page 2
"The first building in Park West Commerce Center responds to
the growing demand for and dwindling supply of industrial space
in the market, especially with good access near the airport,"
said Michael R. Tucker, Prentiss Properties vice president of
development for the 336-acre site purchased by The
Prentiss/Copley Investment Group in January.
Upon completion, Park West Commerce Center will have up to
six million square feet of industrial, retail corporate campus or
garden office space. In addition to development for tenant
needs, Prentiss Properties also has lots with all utilities in
place for sale or build-to-suit.
"We now will have half a million square feet of space under
construction in the LBJ West corridor," observed Tucker,
including a 350,000 square foot office building scheduled for
completion this November in Park West office center to the east,
at IH-635 and 1-35E. Prentiss Properties completed development
of the 342-room Doubletree Hotel at Park West this summer.
The fully sprinklered structure in Park West Commerce Center
will have interior clear height of 24 feet, with 40-by-40-foot
storage bays. Up to 30 percent of the space will be available
for office use, with the remainder designed for storage,
distribution and light manufacturing uses.
(MORE)
Page 3
Nearly half the Prentiss/Copley $2 billion-plus portfolio
are industrial properties, located in California, Chicago, New
Jersey and Dallas. Dallas-based Prentiss Properties has
developed, manages and/or leases 25 million square feet of
industrial, office and mixed-use projects in major markets across
the country. Its local projects include 4.5 million square feet
of office space in Momentum Place, First City Center and Pacific
Place downtown and Park West in suburban Dallas; and one million
square feet of office space in Burnett Plaza in downtown Fort
Worth.
PRENTISS
~ROPERTIES
erom Richard Toth
Subject
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