JLL Capital Markets announced Aug. 4 that it has arranged equity and construction financing for South Fort Worth Logistics Center, a state-of-the-art, speculative industrial development totaling 956,020 square feet in the southern part of Fort Worth.
JLL worked on behalf of Bandera Ventures to arrange the partnership with Invesco Real Estate, a global real estate investment manager. Additionally, working on behalf of the partnership, JLL arranged a three-year construction loan with Veritex Bank. The project is set for completion in 2021.
Situated on 47.6 acres at the northwest corner of Oak Grove Road and Everman Parkway, the South Fort Worth Logistics Center site is in the South Fort Worth Industrial submarket, one of the most desirable industrial submarkets in the Dallas-Fort Worth region and accounting for a critical mass of Fort Worth industrial product. The site has easy north-south access via Interstate 35 and east-west access via Interstate 20, as the South Fort Worth industrial submarket offers the capability to connect to key transportation nodes both regionally and nationally. Designed by Halff Associates, South Fort Worth
Logistics Center will consist of two cross-dock buildings that feature 36- to 40-foot clear heights, deep truck courts, ample parking and trailer storage, 231 loading doors and an ESFR sprinkler system. The distribution and warehouse buildings can be configured for a single tenant or multiple tenants.
The JLL Capital Markets team representing the developer was led by Managing Director Dustin Volz, Director Stephen Bailey, Director Taylor Coy and Analyst Zach Riebe.
The COVID-19 pandemic and the shelter-in-place policies that ensued have accelerated e-commerce growth and the need for warehouse space across the nation. JLL expects e-commerce sales could hit $1.5 trillion by 2025, which would increase the demand for industrial real estate to an additional 1 billion square feet.