u201cWhile on one hand, it seems like high stakes poker, speculative development is a deeply diagnosed and calculated risk,u201d Reagan says.

FORT WORTH–Construction has begun on a two-building speculative industrial project at Trammell Crow’s 35/Eagle Business Park. The two buildings, which will total 1.6 million square feet, will be designed by Alliance Architects Inc.

Charlie Reagan, principal of Alliance Architects, tells GlobeSt.com, the project will cost $35 million in hard costs, plus the land value and the professional fees.

Construction will complete by the fourth quarter 2014. Reagan anticipates that some of the building will be pre-leased before construction finishes.

“While on one hand, it seems like high stakes poker, speculative development is a deeply diagnosed and calculated risk. The market in Dallas is as strong as any other in the nation,” Reagan says.

The site, which sits in the northwest corner of I-35 and Eagle Parkway, sits adjacent to Alliance Airport and within three miles of the BNSF Railway headquarters. The facility will be ideal for bulk distribution and retail fulfillment operators, and can accommodate a single user or multiple smaller tenants.

Alliance Architects and Trammell Crow have worked together on more than 10 million square feet of industrial space.

Jordan Foster Construction has been tapped as the general contractor, while civil engineering design services are provided by Halff Associates and Brockette Davis Drake is overseeing structural design services.