Prologis expands its DFW footprint

Prologis, one of North Texas’ largest industrial building owners and developers, is eying Carrollton for its next project.

The San Francisco-based company already owns more than 200 Dallas-Fort Worth warehouses, totaling nearly 40 million square feet. Now, the Dallas Morning News reports that the company has filed planning documents with the state for a six-building complex. The project is reportedly valued at nearly $50 million.

The aptly named Belt Line Corporate Center would go up on Belt Line Road, east of Interstate 35E. Prologis acquired the more than 45-acre site last year from Halliburton Energy Services, according to county tax records.

Prologis is also expanding its North Texas footprint with a pending merger. In June, Prologis and Duke Realty announced the $24 billion deal. Duke, the Indianapolis-based industrial and office builder, owns more than 17 million square feet of North Texas industrial space across 45 properties.

The Dallas-Fort Worth metroplex leads the country in warehouse building. By the end of June, more than 70 million square feet of warehouse and distribution space was under construction in North Texas. That’s the equivalent of more than twice the space in all the towers in downtown Dallas, according to a report from commercial property firm Cushman & Wakefield.

Warehouse development in the metroplex has more than doubled in the past year, and over 30 local warehouse projects were completed in the second quarter of this year alone.

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— Maddy Sperling