DALLAS, May 8, 2017 – With the Dallas-Fort Worth market continuing to experience brisk demand, Crow Holdings Capital-Real Estate (CHC-RE) is developing a new two-building industrial park strategically located at the southwest intersection of Interstate 35 and Interstate 20. I-35 Logistics Crossing will feature twin 610,806-square-foot cross dock facilities at the northwest corner of Houston School and Wintergreen roads in Lancaster.
“CHC-RE is very bullish on the DFW market, especially Dallas’ southern sector because of strong industrial absorption levels in the region reinforced by continued population growth” said Ben Doherty, Head of Industrial and Self-Storage Investment Strategies for Crow Holdings Capital-Real Estate. “We were pleased with the results of our Mountain Creek project, also located in south Dallas, and welcome the opportunity to continue developing in the market.
“We believe our building sizes will serve the market well because other new developments have focused on different sized products, Doherty added. “That’s why we are moving forward on a speculative basis and developing both buildings at the same time.”
Kurt Griffin and Nathan Orbin of Cushman & Wakefield have been selected to oversee leasing.
“Crow Holdings is an experienced, highly capable development group with a long track record of success, and we’re excited to represent them on this project,” Griffin said. “The new buildings will offer unparalleled access to Interstates 35 and 20 and feature state-of-the-art amenities, including 36-foot clear heights, 185-foot truck courts, and abundant trailer storage, which can be fenced and secured.”
The location provides a unique business park environment for the South Dallas submarket, which is already home to major corporate tenants such as BMW, Mars Petcare, and NFI. “I-35 Logistics Crossing will provide users direct access to the DFW region, UP Intermodal, and FedEx Ground facility, as well as other major Texas markets such as Austin and San Antonio,” Griffin said. “The city of Lancaster is a great place to do business and has a history of supporting industrial tenants through economic incentives, including property tax abatements. That will help make I-35 Logistics Crossing very competitive from an occupancy cost standpoint.”
According to Cushman & Wakefield research, tenants absorbed nearly 5.4 million square feet of DFW industrial space during the first quarter of 2017, with more than 1.5 million square feet occurring in the southern sector.
“South Dallas, specifically, is seeing good demand for deals sized 600,000 square feet and above,” Orbin said. “Overall, we’re tracking 25 million square feet of active tenants in the DFW market, and South Dallas is among the most desirable submarkets.”
Construction of I-35 Logistics Crossing is expected to begin this month, with completion scheduled for the first quarter of 2018.
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