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FT. WORTH-Newport Beach, CA-based Koll Development Co. has its permits in hand for a $7-million, 179,122-sf spec project to launch a second industrial building wave in the 1,300-acre CentrePort.

Site preparation is under way for Koll CentrePort Distribution II. Pier drilling will begin next week, with a November delivery in mind, Bill Guthrey, Koll’s vice president of marketing, tells GlobeSt.com. The 198,000-sf first phase is fully leased and it’s simply time to start building again, he says. A third industrial phase could move off the drawing boards as early as first quarter 2002.

Hardy McCullah Architects of Dallas have designed the 11-acre second phase, containing 100,880-sf and 79,122-sf, single-story buildings, located at 14951 and 14925 Kingsport Rd., respectively. Dallas-based Hill & Wilkinson Co. is the general contractor and Bill Leeming of Grand Prairie is the landscape architect.

Guthrey says talks already are under way with prospective tenants for the latest spec undertaking in the Great Southwest submarket, where CentrePort’s owners hold title to the most raw land ticketed for industrial projects on the south side of the Dallas-Ft. Worth International Airport. “Interest has been good,” he says of the talks thus far.

The CentrePort industrial land bank, which originally had 500 acres, has 125 acres left to support another nine million sf of build-to-suits or leased sites. With Koll CentrePort Distribution II, the industrial component will tally about seven million sf.

Industrial projects have been the bread-and-butter for the metroplex throughout the sluggish first six months of this year will continue to do so as the economy slowly makes its way back up the ladder. CentrePort’s success, says Guthrey, is mortared in its airport proximity and high-finish industrial product.

But, confides Guthrey, more CentrePort news is just around the corner. In 45 days, a joint venture partner will be announced for a 15-acre retail development that is planned at the intersection of Trinity Boulevard and Interstate 360. A fall groundbreaking is anticipated for 70,000 sf of retail, with an office supply junior anchor and four or five restaurant pads. The high-traffic area currently has just 30,000 sf of primarily inline retail.

Meanwhile, final papers are close to being signed for a four-story, 130-room Residence Inn that will be positioned on four acres. A groundbreaking tentatively is being eyed for November or December.

CentrePort has really taken off in the past three years, including the kickoff for its 350-acre, high-tech anchor, the Campus at CentrePort. “It’s been active and we expect it will continue that way,” Guthrey says. GM Asset Management via its advisory fund manager, AEW Capital Management, owns the 20-year-old development, which today houses about 70 businesses with more than 30,000 employees, 2,000 apartments and 295-room Marriott Hotel.

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