CBRE announced Feb. 19 that Ascendant Commercial has purchased 46.25 acres of undeveloped land for industrial use in Fort Worth. The land is located on the northwest corner of I-35 and Highway 1187 in the south Fort Worth submarket. This is the first phase of an approximately 130-acre, multi-phase commercial industrial park which will ultimately deliver an estimated 2.2 million square feet of institutional grade logistics and distribution space.
Ascendant will break ground on its first spec industrial warehouse in the summer of 2020. The first building will be an approximately 850,000 square foot distribution center, which will be the largest spec development in the growing south Fort Worth area. The building is expected to be delivered in May 2021. Ascendant Commercial is a Dallas-based real estate investment, development and consulting firm founded by Steven D. Bradford in 2012.
According to Bradford, South Fort Worth is a dynamic submarket with its strong work force and exceptional infrastructure. “The growth and industry diversification of south Fort Worth is compelling,” said Bradford. “Ascendant Commercial is proud to be a part of its continued growth and success.”
South Fort Worth is a top emerging market for industrial development in the metroplex. According to CBRE research, there were 1,569 industrial buildings in the submarket in Q4 2019 with 1,058,844 square feet of space under construction.
“We have seen very strong demand in south Fort Worth for bigger box product because of the area’s excellent logistics location with close proximity to I-20 and I-35,” said Scott Moore, First Vice President at CBRE. “South Fort Worth has a labor force that is only rivaled by Forney/Terrell, so this project fills a void that is needed in the submarket. We’re extremely excited to be involved with Ascendant Commercial on this project.”
Moore and Steve Koldyke are marketing the spec development for lease.