DALLAS—Add one more multi-acre industrial park to the mix along the Interstate 20 corridor in south Dallas.
Crow Holdings Capital Partners LLC recently revealed the development of Mountain Creek, an 87-acre project that will include two buildings totaling 1.3 million square feet for distribution and warehouse space.
“The demand for bulk warehouse space in the south Dallas submarket, along with the economic momentum of the Dallas/Fort Worth area, has us very excited about this project,” says Ben Doherty, of Crow Holdings Capital Partners. “Mountain Creek is a true industrial park that can cater to both national and regional users.”
Phase I of the project is slated to break ground this week, and it will include the development of one 630,000-square-foot building.
CBRE’s Dallas office will exclusively lease assignment the development. Crow Holdings Capital Partners has hired McFadden & Miller as contractor and Azimuth Architecture as architect.
As GlobeSt.com previously reported, market fundamentals are now the best since 2006 and trends are expected to remain stable or even improve through the rest of 2014, according to a industrial real estate trends report issued by Cushman & Wakefield. Roughly 5.8 million square feet of construction completed, including 8 speculative projects, which accounted for 66.8% of the total space brought to market. There are 16 million square feet of projects currently under development – 6 build-to-suits and 27 speculative buildings. At this rate, Dallas/Fort Worth is set to have the second highest construction total by year-end, second only to 2008 when 20.6 million square feet came to market.