Champion Partners inks 1.35M sf lease with solar panel manufacturer
Trina Solar took space in one of Texas’ biggest spec developments
A Chinese manufacturer of photovoltaic panels and solar heating systems took a massive industrial lease in southern Dallas County. With the deal, it plans to open its first manufacturing plant in the United States.
Trina Solar leased the 1.35 million-square-foot Tradepoint 45 West, at 1200 North Sunrise Road in Wilmer. Dallas-based Champion Partners developed the building on spec last year, in partnership with Chicago-based Cresset partners.
Stream Realty Partners represented the landlord and the tenant in the transaction.
Trina Solar plans to invest $200 million to build out its five-gigawatt plant. When it opens later this year, it will create 1,500 jobs for the production of high-powered solar panels.
“These high-power solar panels use the most advanced technology in the industry, utilizing manufacturing techniques and technologies pulled from over 26 years of experience,” a news release from Stream states.
Champion Partners was founded in 1991 and is led by co-founders Steve Modory and Jeff Swope. Their investments include industrial and office assets, mostly in Texas. Their Tradepoint 45 West was the largest speculative industrial development in Texas when construction began. It was financed with joint venture equity from Cresset Partners and debt financing from Interbank, according to Champions’ website.
The development is in the International Inland Port of Dallas, which spans 7,500 acres across five municipalities. Its location between interstates 35 and 45 provides quick logistical access to the Texas Triangle.
In other industrial real estate news, Illinois-based Stotan Industrial filed plans to build a four-building complex near San Antonio.
The complex, at 13552 Toepperwein Road in Live Oak, will span 494,000 square feet and cost $51 million to build, according to the filings.
That’s about $103 per square foot. Construction is expected to start in March.