Crow Holdings Capital-Real Estate, in partnership with Rob Riner Companies, is developing a new, four-building industrial park in the DFW’s South Fort Worth submarket, the company announced Dec. 19.
Located at the intersection of Joel East and Oak Grove Road, the venture’s second phase includes a 394,000 square foot cross-dock facility, a 294,000 square foot cross-dock facility, and two 187,000 square foot front-load facilities.
The development plan also calls for the expansion of both Joel East and Oak Grove roads, widening the existing infrastructure and further improving trucking access to I-35W and I-20.
“We are very bullish on the DFW industrial market, especially South Fort Worth. We’ve had success delivering functional, Class-A logistics product in this submarket and the tenant demand is robust,” said Ben Doherty, head of Industrial and Self-Storage Investment Strategies for CHC-RE.
“We have put an overall emphasis on delivering best-in-class functionality, and we believe that our layout for the next phase allows us to accommodate a wide range of tenant sizes and multiple market segments.”
After a history of successful ventures, Rob Riner of Rob Riner Companies will develop the master-planned park on behalf of CHC-RE. Riner brings over 16 years of extensive real estate experience covering the entire spectrum of industrial activities, from tenant representation, project leasing, building and land sales, investment property sales, asset management, acquisitions, dispositions, and development.
Matt Carthey and Thomas Grafton of Holt Lunsford Commercial will continue to oversee marketing.
“We’re excited to bring Phase II to market,” said Carthey, managing principal and partner at HLC. “Phase I totaled 488,554 SF in two cross dock facilities and leased within six months. We expect the same momentum moving into Phase II.”
“The premier location just southeast of the I-35W/I-20 interchange, coupled with exceptional labor and amenities, have been critical factors driving site selection in corporate America. Local and regional tenants are increasingly interested in occupying new, Class-A space.”
“In addition to being able to service bulk and shallow bay users, Phase II will also bring the immediate expansion of Oak Grove and Joel East, providing exceptional internal ingress and egress throughout the park,” Carthey said.
Construction of all four facilities is expected to begin in Q1 2019.