JLL Capital Markets secured construction financing for 635 Exchange, a Class-A industrial development totaling 595,688 square feet across three buildings in Dallas, Texas.
JLL represented the borrower, a joint venture between Creation Equity and PGIM Real Estate, to secure the financing through a 50/50 syndication between Veritex Bank and Comerica Bank.
The 635 Exchange development occupies a 36.27-acre site at the corner of Interstate 635, the vital loop around Dallas, and Interstate 35E, a crucial north-south artery connecting Texas from Laredo to the Minnesota border. This strategic positioning provides tenants with swift access to more than 7.8 million consumers within a 60-minute drive and a rich talent pool of 2.6 million workers within a 30-minute commute. The development is also less than 20 minutes from Dallas-Fort Worth International Airport and Dallas Love Field, further enhancing air freight capabilities for potential tenants.
Scheduled for completion in October 2026, the industrial park comprises three rear-loading distribution buildings of 144,216 square feet, 208,000 square feet and 243,472 square feet with clear heights of 32 to 36 feet and truck courts ranging from 130 to 185 feet. Additionally, the development features 100 dock doors, six drive-in bays, 498 car parking spaces and 132 trailer parking spots across the three structures.
The JLL Capital Markets Debt Advisory team was led by Managing Director Greg Napper, Associate Luke Rogers and Analyst Charlie Mossy.
