Niche Developer Launches 80,000-SF Project

NORTH RICHLAND HILLS, TX-Decatur-based Sandford Investment Co. has honed in on North Richland Hills for its 11th cold storage operation in the Dallas-Ft. Worth metroplex. The project will bring 750 units in an 80,000-sf design to the community.

Andrew Sandford, vice president. tells GlobeSt.com that the tract, just a bit shy of three acres, was selected for the city’s strong demographics and “good, stable growth.” The nine-building project is located on the east side of Davis Boulevard and just north of the Mid-Cities Parkway. The climate-controlled units will be ready to lease in June 2002. Andco Construction of Dallas is the general contractor.

Davis bought the tract from Dennis L. and Carole J. Stout. Don Phifer of Phifer & Associates represented the sellers, with Sandford handling the deal for the buyer. Davis Self-Stor LP is the buyer of record and marks the first undertaking in North Richland Hills for the company.

Sandford says the company is looking “all over the state” for other tracts suitable for cold storage development. Sanford Investment has been working the industry since the early 1990s. It has built a portfolio of 5,000 units located in strategic areas of Louisiana, Florida and Texas.