Crow Holdings Capital-Real Estate (CHC-RE), in partnership with Rob Riner Companies, is developing a new, four-building industrial park in the South Fort Worth submarket in Dallas/Fort Worth (DFW), US.
Located at the intersection of Joel East and Oak Grove Road, the venture’s second phase includes a 394,000ft² cross-dock facility, a 294,000ft² cross-dock facility, and two 187,000ft² front-load facilities.
The plan also includes expansion of Joel East and Oak Grove roads, widening the existing infrastructure and improving trucking access to I-35W and I-20.
CHC-RE head of industrial and self-storage investment strategies Ben Doherty said: “We are very bullish on the DFW industrial market, especially South Fort Worth. We’ve had success delivering functional, Class-A logistics product in this submarket and the tenant demand is robust.
“We have put an overall emphasis on delivering best-in-class functionality, and we believe that our layout for the next phase allows us to accommodate a wide range of tenant sizes and multiple market segments.”
Rob Riner of Rob Riner Companies will develop a master-planned park on behalf of CHC-RE.
Matt Carthey and Thomas Grafton of Holt Lunsford Commercial (HLC) will oversee marketing.
HLC managing principal and partner Matt Carthey said: “We’re excited to bring Phase II to market. Phase I totaled 488,554 SF in two cross dock facilities and leased within six months. We expect the same momentum moving into Phase II.
“The premier location just southeast of the I-35W/I-20 interchange, coupled with exceptional labor and amenities, have been critical factors driving site selection in corporate America.
“Local and regional tenants are increasingly interested in occupying new, Class-A space.
“In addition to being able to service bulk and shallow bay users, Phase II will also bring the immediate expansion of Oak Grove and Joel East, providing exceptional internal ingress and egress throughout the park.”
Construction of all four facilities is expected to begin in the first quarter of 2019.
Image: Crow Holdings is developing a new industrial park in the US. Photo: Courtesy of Crow Holdings Capital-Real Estate / Business Wire.