Railway Logistics: The Allen Group And BNSF Railway Company Execute Purchase Rights Agreement
The Allen Group, a developer of logistics parks and commercial properties throughout the United States, announced that they have executed an agreement granting BNSF Railway Company (BNSF) the right to purchase land within the Dallas Logistics Hub as the next step in evaluating the possibility of a new intermodal facility at this location.
The agreement was executed and announced recently by Edward Romanov, President and Chief Operating Officer of The Allen Group, during the Dallas Logistics Hub Grand Opening Ceremony in front of 1,000 attendees in Southern Dallas County.
Under the terms of the agreement, BNSF has the option to purchase a minimum of 387 up to a maximum of 530 acres of land within the Dallas Logistics Hub for construction of an intermodal facility. The site under consideration fronts 8,000 feet of BNSF track in the City of Dallas and represents a portion of the 2.5 miles of BNSF track frontage located within the Dallas Logistics Hub.
"We are pleased to finalize this agreement providing BNSF Railway the opportunity to possibly extend its intermodal network with a facility at the Dallas Logistics Hub," said Edward Romanov, President and Chief Operating Officer of The Allen Group. "If BNSF uses its option and constructs an intermodal facility here, it would be the first logistics park in North America to house two intermodal facilities operated by the two largest U.S. freight rail carriers."
The Dallas Logistics Hub, developed by The Allen Group, is a 6,000 acre master-planned logistics park located in Southern Dallas County. With 60 million square feet of development potential and comprehensive rail-ground-air access, the Dallas Logistics Hub will serve as a major inland port for the distribution of goods to the major population centers of the Central and Eastern United States.
The Allen Group
The Allen Group is a commercial development firm specializing in rail-served industrial parks and build-to-suit facilities, including Class A office buildings and large scale distribution centers. The Company has over 8,000 acres under development. The Allen Group has developed over one billion dollars in projects ranging in size up to 1.7 million square feet. Current developments include the International Trade and Transportation Center www.ittc.com; MidState 99 Distribution Center www.midstate99.com, both in Central California; the Dallas Logistics Hub www.dallashub.com; and recently announced - a new BNSF Intermodal logistics park in Kansas City. For more information about The Allen Group, please visit www.allengroup.com.
The Allen Group, based in San Diego with regional offices in Visalia and Bakersfield, Calif., as well as Dallas, Texas, and Kansas City, MO, is trusted by Fortune 500 companies such as VF Corporation, Cox Communications, FedEx, International Paper Company, Intuit, Kraft Foods and Wal-Mart Stores. For more information about The Allen Group, please visit www.allengroup.com.
SOURCE: The Allen Group