Ares Breaks Ground on Dallas Logistics Project

Turnpike North Logistics Center. Image courtesy of Ares Management

An affiliated fund of Ares Management has kicked off construction at a Dallas-area logistics project, the company announced today.

Turnpike North Logistics Center has a total of 636,000 square feet across two buildings at Singleton Boulevard and Weir Street, about 7 miles west of downtown Dallas. The Class A warehouses are slated to be completed in the fourth quarter of 2022.

Talley Riggins Construction Group was tapped as the general contractor on the project, which will entail two 318,000-square-foot buildings with features including 36-foot clear heights, 54 dock doors, 236 parking spaces for cars and 67 trailer parking spaces. The fund first acquired the 35.9-acre site in 2020.

READ ALSO: While Supply Chain Slow, Logistics Real Estate Moves Fast

Ares Real Estate Group Vice President Dustin Collins said in prepared remarks that the project will add high-quality product to an area in need of more industrial space.

Earlier this year, Ares Management closed on a $1.7 billion commercial real estate fund. The fund was the global alternative investment manager’s third U.S. investment vehicle and focused on selective distressed, repositioning and development opportunities.

New development in DFW’s industrial market has been moving at a rapid pace in 2021. The metropolitan area had the largest amount of industrial product underway in the nation, with 34.1 million square feet under construction at the end of August, according to data from CommercialEdge. Through August of this year, 193.7 million square feet of industrial projects have been delivered, with another 500 million square feet underway.