DENVER—With an eye toward capitalizing on shifting demographicand logistics trends, locally based Amstar haslaunched a program of speculative industrialdevelopment. The first three markets are Dallas/Fort Worth, Houstonand Atlanta, with Amstar and its development partners building morethan 1.2 million square feet across the three cities.

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“These investments fit within Amstar's industrial developmentstrategy, which is focused on providing superior risk-adjustedreturns by partnering with high-quality local development firms toacquire exceptional construction-ready sites in strong USindustrial markets and adding value through the development andleasing of institutional quality class A industrial product,” saysVP Tricia Noble. She adds that the company ispursuing additional industrial development opportunities in boththe Southeast and Pacific Northwest totaling an additional 670,000square feet.

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In June, Amstar and development partners HuntingtonIndustrial Partners and Seefried IndustrialProperties broke ground on Riverpark 1000, a145,579-square-foot light industrial facility in the GreatSouthwest submarket of Dallas. Located off West Trinity Boulevardand less than 10 miles from DFW International Airport, the propertywill feature a rear-loading configuration, 32' clear height, andabundant trailer parking. CBRE is handling leasingassignments for the property, which is scheduled for completion inthe fourth quarter.

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Amstar and Huntington have also begun building DFW NorthDistribution Center, a 401,600-square-foot bulk property in Dallas'North Airport submarket. Located on Lakeside Parkway in the town ofFlower Mound, it's also scheduled for completion in Q4 and is beingmarketed by Stream Realty. Noble predicts thatboth DFW properties will be well received, thanks to their airportproximity and “the state-of-the-art features of each building.”

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In Houston, Amstar has partnered with Davis CommercialDevelopment to begin construction of the Beltway NorthCommerce Center, a 352,000-square-foot cross-dock building in theNorth Houston submarket. The site benefits from more than 1,200feet of frontage on Beltway 8 and lies just east of theintersection with the Hardy Toll Road, immediately south of GeorgeBush Intercontinental Airport. Completion is scheduled for Q4;Stream Realty is once again handling leasing.

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“Houston has led the nation in job and population growth sincethe recession, spurring homebuilding and household consumption,”says SVP Daniel Cohen. “In addition, Houston isthe epicenter of the energy boom, and warehouse space demand frommining and drilling firms has increased dramatically. Our Houstonproject is favorably located for prospective tenants fromconsumer-driven and energy-related tenants, and the quality andconfiguration of the building should position it well forsuccess.

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Amstar's latest acquisition is a 30-acre site in Fairburn, GA,in the I-85 South submarket of Atlanta, on which it will build a317,520-square-foot cross-dock distribution facility. The site islocated less than 1.5 miles from Interstate 85, approximately 14miles south of Hartsfield-Jackson Airport and four miles from theCSX intermodal yard. Amstar, with development partners Huntingtonand Trammell Crow Co., expects to beginconstruction later in Q3. CBRE is marketing the building forlease.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.