COPPELL, TX-Operating with a $30-million build-out plan, Holt Lundsford Commercial will break ground in first quarter 2005 on the first phase to a 650,000-sf industrial project, hoping to hit a bull’s eye with the small-user market.

The first to rise for the 40-acre Coppell Trade Center will be a 200,000-sf spec office/warehouse with front park, rear load, 24-foot clear heights and shallow bays. Al Sorrels, principal with the Dallas-based Holt Lundsford Commercial, tells GlobeSt.com that he expects the product will attract more of the 25,000-sf crowd than any other size user although there will ample room for larger ones.

“There’s a lot of bulk coming out of the ground in that area…so there’s a lot of demand for this niche,” Sorrels says. He estimates there is 300,000 sf under construction, some of which is similar product, in the Coppell submarket. “But, we feel there is enough demand for this type of product that it makes sense,” he says of the spec play. “It has been and will continue to be a great submarket.”

The 40 acres rolled into Holt’s hands about three months ago. The land is situated near Texas 121 between Royal Lane and State Street. Sorrels says the acreage is master-planned for 650,000 sf, which will take three or four years to develop at an ending value of $30 million.

Coppell Trade Center has been designed by Merriman Associates /Architects Inc. of Dallas. The general contractor has yet to be picked.

Sorrels, who pegs the full build-out value at $30 million, has oversight for the development and will chase tenants along with Holt’s Kacy Jones and Jim Brice, who have been assigned for the find-and-sign campaign when the time comes. Sorrels says it will take 10 months to a year before the first space delivers so it’s just a bit early to start chasing deals in the target market. The shell space will come on line at $4.75 per sf, triple net.

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