DALLAS — Crow Holdings Capital-Real Estate has begun development of a 1.2 million-square-foot speculative industrial project in southern Dallas County.
Named I-35 Logistics Crossing, the development will consist of two buildings, each roughly 611,000 square feet. Crow Holdings plans to build both structures simultaneously. The site is located in the Lancaster area at the junction of Interstate 35 and Interstate 20.
Leasing for the project will be handled by Kurt Griffin and Nathan Orbin of Cushman & Wakefield.
Research from Cushman & Wakefield shows that tenants absorbed nearly 5.4 million square feet of industrial space across the Dallas–Fort Worth market in the first quarter of 2017, with more than 1.5 million square feet of that activity taking place in the southern submarket.
“South Dallas, specifically, is seeing strong demand for large deals of 600,000 square feet and above,” Orbin said. “Across the DFW market we are tracking 25 million square feet of active tenant requirements, and South Dallas remains one of the most sought-after submarkets.”
Crow Holdings reports that construction of I-35 Logistics Crossing is set to begin this month, with delivery targeted for the first quarter of 2018.
“Crow Holdings is a seasoned, highly capable development team with a proven record of success, and we’re pleased to represent them on this project,” Griffin said. “I-35 Logistics Crossing will give users direct access to the broader DFW region, the Union Pacific Intermodal facility, the nearby FedEx Ground hub, and provide strong connections to other major Texas markets such as Austin and San Antonio.”
May 15, 2017 Realty News Report Copyright 2017