Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LEWISVILLE, TX-With site work now into its second week, Opus West Corp.’s Texas team is planning to go vertical in mid-November on the first leg of a 1.2-million-sf distribution project that will be set on 65 acres of Triple Freeport land north of Dallas.

The initial two-building phase to 121 Lakepointe Crossing will cost slightly less than $20 million, Steve Chilton, Opus’ director of real estate development, calculates for GlobeSt.com. The plan calls for a 488,000-sf building and 155,000-sf design, both coming out as spec in a submarket that’s been stronger than most in the region.

Eric Langford, Opus’ senior vice president of real estate, says proposals are out for a full-building tenant for the larger structure as well as a couple 50,000-sf plus deals that are floating in the market. The Grubb & Ellis Co. team of Gary Lindsey and Robert O. Fulford III hold the leasing assignment. “It’s designed to have zero pre-leased by the time it’s done, but we’re hoping to have 25% to possibly 50% (at completion) on both buildings,” Langford says.

The first phase will take up about half of the site, which fronts Texas 121 and situated between Interstate 35 and the Dallas North Tollway. The second phase will consist of 430,000-sf and 200,000-sf structures. The quartet’s design has 10% to 20% office finish-out which, Chilton says, has attracted interest from distribution companies that keep the headquarters team on site. The 155,00-sf building will be finished Feb. 1, 2004, and the larger one delivering a month later.

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 Fall 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.