WILMER, TX-Jones Development Co., marking its fourth project in the state, is ready to roll out its largest, a 520,000-sf spec industrial building. The undertaking is the opening act for the 327-acre Sunridge Business Park, which has a front-row seat to Union Pacific Railway's intermodal yard in Dallas County's southern sector.
The Kansas City, MO-based Jones Development, with backing from the Industrial Works Investment Fund, has been looking to break into the market for some time, says Roger Pavlovich, vice president and project executive for Dallas-based Cadence McShane Corp. He tells GlobeSt.com that that 30.5-acre inroad is the first spec, but certainly won't be the last for the developer's Dallas break-through. Sunridge, being developed by Cornell-Rader of Fort Worth, is mapped out for eight industrial buildings with nearly 4.4 million sf.
The I-45 Tradeport I's shell construction alone will cost $11.4 million. Cushman & Wakefield of Texas Inc. is preleasing the space, featuring 107 truck doors, two drive-in doors and 32-foot clear heights. Gromatzky Dupree & Associates is the architect; Cadence McShane, the general contractor.
Pavlovich says the construction schedule has dirt work under way, water injection beginning today, concrete coming in early July and walls being tilted by Sept. 25. Deliver is penciled for January 2008. Infrastructure work, which began last month, is adding two interior streets, Sunridge Boulevard and Distribution Drive, with Jones' site right at the hard corner and a stone's throw from the interstate.
"I-45 Tradeport is in a brand-new development in a prime location," Pavlovich says. "This whole development will probably sell and lease quickly."
Jones has picked up a key tract in the early development stages of the San Diego-based Allen Group's 6,000-acre stronghold. As local brokerage circles know, the Allen Group has been the main driver behind the southern sector's push to become an industrial portal like Hillwood's AllianceTexas in Tarrant County. And part of its foothold was the Sunridge developer's Southport tracts.
Jones' other work in the state has been tied to Memphis-based FedEx Corp., building its facilities all over the US. In Texas, it has built a 30,047-sf building Weslaco, 33,871-sf structure in Laredo and two-building complex with 59,426 sf and 91,854 sf in El Paso.
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