The expansion more than doubles the company’s size at this location, making Nautilus Hyosung the largest tenant in the development. Parc 114 is a joint partnership development of Jackson-Shaw and ORIX Capital Markets. The new space will house a call center and a training center. Additionally, the expanded warehouse space will be used for inventory storage. The company will occupy its new space in Spring 2013.
In October 2010, Nautilus leased 61,890 square feet of office and warehouse space at Parc 114 in Irving, Texas to relocate and expand its U.S. headquarters. The site has also been used as a primary distribution point for Nautilus’ ATMs and for light assembly. The addition of space brings the company’s total occupancy at Parc 114 to 137,044 square feet, and brings the development’s total occupancy to 88 percent.
“Nautilus Hyosung was one of the first tenants at Parc 114, and it’s gratifying to see it thrive in this space,” said Jason Nunley, vice president of development for Jackson-Shaw. “Our proximity to D/FW International Airport, access to major national interstates and central location within the Metroplex all played a favorable role in the company’s decision to expand at Parc 114. Nautilus’ growth clearly demonstrates that Parc 114 offers all the amenities necessary for a company to be successful.
Blake Kendrick, managing director for Stream Realty and broker representative for Parc 114, says the D/FW International Airport submarket remains a highly competitive area for corporate expansion and relocation opportunities because of its attractive location. Nautilus Hyosung’s expansion reinforces the strength of this submarket.
“Commercial real estate demand across the Metroplex is good and inventory is tight,” Kendrick said. “In particular, the D/FW International Airport and South Dallas County submarkets are leading the region’s real estate recovery. The airport submarket has five to six new buildings under construction, which speaks to the rapid growth taking place.”
Situated on land bordering D/FW International Airport in Irving, Parc 114 is a multi-phased, industrial development that will ultimately consist of seven buildings containing nearly 600,000 square feet of space. In addition to Nautilus Hyosung, the development has an impressive mix of tenants such as the U.S. General Services Administration (GSA), Chrysler Group, LLC, Nissan North America, Walgreens and Schindler Elevator.