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Ares Begins Construction on Logistics Center in Dallas

A fund managed by a subsidiary of Ares Management Corporation has begun construction on Turnpike North Logistics Center in Dallas.

A fund managed by a subsidiary of Ares Management Corporation (NYSE: ARES), which acquired Black Creek Group’s U.S. real estate investment advisory and distribution business in July 2021, has begun construction on Turnpike North Logistics Center in Dallas.

The industrial development, located at Singleton Blvd & Weir St., will include two buildings totaling 636,000 square feet. The fund acquired the 35.9-acre land parcel in 2020 and anticipates construction of both Class A warehouses to be completed in the fourth quarter of 2022.

“We have been an active developer in the Dallas market for some time, completing 570,000 square feet of industrial projects over the last year, and are thrilled to be breaking ground on Turnpike North Logistics Center,” said Dustin Collins, vice president in the Ares Real Estate Group. “We believe this project is a great opportunity to deliver quality infill product in a constrained area.”

Both buildings will be 318,000 square feet and will have 36’ clear heights, 54 dock doors, 236 car parking spaces and 67 trailer parking spaces. Talley Riggins Construction Group is the general contractor on the project.

Ares Management Corporation (NYSE: ARES) is a global alternative investment manager with approximately $282 billion of assets under management, as of September 30, 2021.

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