Wichita, Kansas-based Hayes Company has signed a lease for 904,495 square feet in Forney.
A partnership between Dallas-based real estate investment and development company Stillwater Capital and real estate fund manager Grandview Property Partners – GVSW Forney Property Owners – announced the transaction in a news release on Tuesday.
Hayes, a logistics and fulfillment company, is taking down space at Forney Logistics Crossing, a Class A distribution facility at 11333 County Road 212.
Nathan Lawrence and Krista Raymond of KBC Advisors represented GVSW in the deal, while Greg Nelson of Dallas commercial real estate services firm Paladin Partners represented Hayes.
Nelson represented Hayes last year as the company looked to grow in Forney on a tight timeline. Hayes leased 712,900 square feet at 1285 Akron Way within Hunt Southwest's Gateway East Trade Center.
Tight vacancy rates continue to push new industrial construction across the country, and Dallas-Fort Worth has the largest industrial development pipeline in the U.S. According to a report from Commercial Edge, there is 61.6 million square feet of industrial under construction with an additional 49.5 million square feet in the planning stages in DFW.
About 15% of the national industrial pipeline is either in Dallas or Phoenix, Commercial Edge reported.