CJ Logistics America, a Korean conglomerate CJ Group subsidiary, has leased around 1.07 million square feet of industrial space south of Dallas.
The logistics firm secured the entire first of three buildings in 252-acre Southport Logistics Park in Wilmer, roughly one mile east of 1-45. The park is owned by Logistics Property Company, LLC (LogiPropCo).
“We’re pleased to announce that Southport Logistics Park is fully leased… We are excited to partner with CJ Logistics and continue our relationship with them,” said Max Mueller, Vice President of LogSouth Region, in a statement released on the company’s website.
Last year, the park welcomed another major tenant, Nike. At the time, as reported in The Dallas Express, Nike leased one million square feet to be used as a regional distribution center for items purchased online.
North Texas continues to attract logistics-oriented businesses, given its proximity to other major metro areas and its easy access to DFW International Airport, the third busiest in the world. In November, third-party logistics company Speedy Freight from the UK opened a 50,000-square-foot warehouse in Irving to serve as its U.S. headquarters.
With the CJ Logistics lease, Southport Logistics Park is now fully occupied.
Unlike office rentals, industrial space has not struggled to attract tenants in North Texas. During the third quarter of 2024, industrial vacancy rates stood at less than 10%. Vacant office space, on the other hand, was nearly 27% during that same period. The trend has prompted ongoing office-to-industrial conversion in the region.
“South Dallas continues to be one of the most sought-after industrial submarkets in DFW,” said CBRE’s Kacy Jones, who supported LogiPropCo in the leasing transaction along with John Hendricks.
“The full lease-up of Southport Logistics Park is a testament to LogiPropCo’s vision and execution in developing a top-tier industrial project,” Jones said.