Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FORT WORTH-Granite Properties, positioning for the next development wave, has just acquired 25 acres in the 320-acre RiverPark Industrial Park from Seefried Properties Inc. The Fort Worth tract delivers the second land asset to give the Dallas-based developer key positions to the north and south of Dallas-Fort Worth International Airport.

Granite has been negotiating with Atlanta-based Seefried for about a year for the tract, which has been plotted to hold up to 450,000 sf of shallow-bay distribution buildings. The first building of 140,000 sf in the set of three on the drawing board will break ground in late 2003 or early 2004, Gregory P. Fuller, Granite’s managing director in Dallas, tells GlobeSt.com. The product will rise speculative if necessary although the team intends to be pounding the pavement for some pre-leasing.

In closing the deal, Granite shored up a key position south of the airport to be worked in conjunction with its Lakeside Business Center to the north. The Riverpark Business Center is nestled in the Fort Worth bounds of far northeast Tarrant County, an area that’s attracted many of the leading industrial developers due to its airport ties. Land in the area ranges from $2 per sf to $3 per sf.

Riverpark Business Center is a design of Hardy-McCullough Architects of Dallas. The buildings will feature 24-foot clear heights in designs ranging from 100,000 sf to 150,000 sf.

Meanwhile, Lakeside Business Center in Flower Mound will break ground in early summer so it can deliver in first quarter 2004. Fuller says the general contractor’s award is about to be doled out for the two-building first phase.

Fuller says Granite’s always on the look-out for development opportunities, but for now it’s comfortable focusing on the “airport concentric” plan made possible by the latest acquisition. “We’d like to get these projects up and leased before we go too much further,” he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.