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Raytheon's old Garland campus will become new business park

March 03,2017 16:29

An old Garland industrial complex that started out as an aircraft manufacturing hub will be the site of a new business park. Until recently, the 60-acre property on Garland Road housed local operations for defense contractor Raytheon. But now that ...

"There is a lot of demand from business for space in that area and not much new construction," Langford said. "Dallas County is really running out of industrial land unless you go south."Langford said he plans to demolish more than 800,000 square feet of old buildings on the property, some dating to 1957.The property was originally developed for Temco Aircraft Corp., which later became part of Ling-Temco-Vought or LTV Corp. At one time, LTV was one of the Dallas area's largest corporations.Raytheon occupied the complex for decades before moving its 1,700 workers to a new campus in the $1.5 billion CityLine project on Bush Turnpike."The recently vacated Raytheon facility and property in Garland served our company and customers well for many decades," said Bill Foley, senior director of Integrated Operations, Raytheon Intelligence, Information and Services. "As our business in the Garland area has evolved, it made sense for us to relocate to a modern engineering center to attract and retain our employee base. This sale and future redevelopment of the property is a win for all parties involved."Commercial real estate firm JLL marketed the Garland campus for sale. It was originally listed at more than $9 million.Langford said he and business partner Brian Flaherty plan to start demolition of the old Raytheon buildings right away."They are outdated and chopped up and have asbestos and other issues," Langford said.The developers plan to build two office and industrial buildings with almost 800,000 square feet.The builders have done a similar project in Arlington, where they demolished an old National Semiconductor plant near Interstate 20 and replaced it with the 840,000-square-foot Cooper I-20 Business Park."Urban sites like this provide good available labor market, amenities such as restaurants, day care, etc. and close-in access," Langford said.They've leased 166,000 square feet in the Arlington project to Automann Inc., an auto parts supplier."Arlington is a very active market and anything along I-20 is in demand," said Nathan Lawrence of CBRE, which is marketing Langford Property's projects.Lawrence said the Garland district around the old Raytheon plant hasn't seen recent office and industrial building."The large blocks of space in that market are few and far between," he said. "It's one of the better-performing areas."Subscribe to our new weekly real estate newsletter.

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