The spike in demand for distribution and logistics space during the pandemic has spurred a run on industrial space in North Texas. A recent example is Trammell Crow at Passport Park, a four-building business park that recently sold to a publicly traded REIT for an undisclosed purchase price. The building, encompassing 2 million square feet of class-A industrial space under construction in Irving, clearly includes what today’s tenancy demands, with 97 percent of its space leased prior to construction completion.

CBRE’s Ryan Thornton, Randy Baird, Jonathan Bryan and Eliza Bachhuber represented the developers, Trammell Crow Company and CBRE Global Investors, in the transaction.

Trammell Crow at Passport Park is located at 2600, 2650, 2700, 2800 Rental Car Dr. in the Dallas/Fort Worth International Airport submarket, where 8.8 million square feet of industrial space has been developed. More than half of the North Texas population can be reached within a 30-minute drive of the location.

“Passport Park brings the total to 34 buildings Trammell Crow Company has developed on DFW Airport property,” said Jake Marks, principal with Trammell Crow Company’s Dallas-Fort Worth office. “As has always been the case, the DFW Airport team has been a great partner in delivering a first-class business park.”