FORT WORTH—Dallas-Fort Worth continues to be a top industrial destination. Capitalizing on this demand, VanTrust Real Estate LLC recently broke ground on the 75-acre Fort Worth Logistics Hub in south Fort Worth consisting of two phases.
Phase One is a 670,941-square-foot speculative logistics project which will be delivered in July 2021. Phase Two, a 606,480-square-foot building, will follow closely behind.
“This new development in south Fort Worth will not only bring investment to our community, but also new businesses and jobs that will help further bolster our economy,” said Fort Worth Mayor Betsy Price.
Located just off Interstate 35 on Risinger Road and south of Interstate 20, the Logistics Hub provides highway access and visibility.
“South Fort Worth offers an abundance of resources, making the market highly competitive in North Texas,” said Bill Baumgardner, executive vice president at VanTrust and head of the company’s Texas office. “With its great connectivity to major interstates and access to an unmatched labor force, south Fort Worth is one of the area’s most prominent logistic locations.”
So far in 2020, nearly 15 million square feet of industrial space was absorbed throughout the region. The South Fort Worth submarket continues to grow with more than 74 million square feet comprising 9% of the total market. The submarket vacancy rate of 5.2% continues to be one of the lowest in the metroplex, according to CBRE.
“The Fort Worth Logistics Hub fits the VanTrust strategy of serving the increasing demand for e-commerce, logistics and manufacturing spaces in North Texas,” said Josh Meredith, director of development at VanTrust. “South Fort Worth will continue to be an area we target for additional developments based upon the great fundamentals.”
Besides its central location and global connectivity through DFW International Airport, the Fort Worth Logistics Hub has access to one of the US’ largest workforce pools. North Texas’ and especially south Fort Worth’s low cost of living and proximity to universities, technical colleges and a wide array of specialized high school vocational academies have made the region a destination for large e-commerce and logistics operations. According to CBRE, the region has a 23% below-average cost of living among large US metro areas with an above-average income.
“Given the dynamic fundamentals, such as great connectivity to major interstates and access to an unmatched labor force, we perceive Fort Worth to be a prime market for industrial and other types of development,” Meredith tells GlobeSt.com.
Nathan Lawrence, J. Scott Moore and Krista Raymond of CBRE will be leasing the project. The general contractor is Bob Moore Construction, the architect is Alliance Architects and the civil engineer is Pacheco Koch.