2101 Reeves Place
Fort Worth 76118
A new player in area real estate has unveiled a 301,500-square-foot spec industrial building in east Fort Worth.
Newly completed by Dallas-based Hunt Southwest Real Estate Development Inc., the Riverbend West distribution center marks the firm’s first project, offering sizable space in an increasingly strong industrial market.
“For a number of years, we said we really need to get Hunt down to Dallas,” said Clark Hunt, chairman-CEO of FC Dallas and the Kansas City Chiefs and a board member of Hunt Southwest, hosting an Oct. 12 open house at Riverbend West Business Park, 2101 Reeves Place in east Fort Worth.
Within a cavernous concrete, tilt-wall structure, Hunt pointed to its 76 dock doors, four drive-in ramp doors and LED lighting with motion sensors as amenities. Leasing is underway for up to six tenants, with three an ideal number, according to Donnie Rohde, working with Holt Lunsford Commercial colleagues Chance Olin and George Jennings in leasing space.
Serving as general contractor for the new facility was EMJ Corp., with RGA Architects Inc. of Roanoke providing architectural services and Kimley-Horn Associates Inc. of Fort Worth working as civil engineer.
“We’re really in the bullseye of Tarrant County,” said Rohde, pointing to the building’s access to Loop 820, state highways 121 and 183 and Interstate 30. The lease rate is $3.95 per square foot.
“We looked Metroplex-wide for an end-fill site that would be a good location,” said Preston Herold, vice president of Hunt Southwest, a joint venture between Hunt Midwest Real Estate Development Inc. of Kansas City, Missouri. and Dallas-based Unity Hunt Inc., parent company of the Hunt family holdings.
Only 15 months after joining the Hunt family business to start its new real estate development group, Herold oversaw completion of a facility made for warehousing, distribution, light assembly and light manufacturing.
“Any one of those would work in this facility,” Herold said.
The Hunts appear to have timed their first North Texas project just right. According to CBRE Research, third quarter 2016 set a Dallas-Fort Worth 10-year record for having the highest level of quarterly industrial absorption. Developers delivered 5.2 million square feet of industrial space to the market in that period, with 3 million square foot, or 57 percent, pre-leased.
Hunt Southwest declined to name prospective tenants but said several have inquired about the facility.
“We don’t want to comment, but we do have several prospects,” Herold confirmed.
Not only has the firm completed its first North Texas venture, it also is finalizing another industrial facility in the Mercantile Center business park on the southeast corner of Loop 820 and Interstate 35W in far north Fort Worth.
“We expect to close on the site and start construction December 1,” said Herold, confirming the building’s space as 650,000 square feet.
Asked what differentiates Hunt Southwest from other industrial developers, Herold offered an immediate response.
“We have the capital and expertise. It makes us very nimble and able to act and execute quickly.”
Hunt Southwest Real Estate Development focuses on industrial, office, retail, mixed-use, multifamily and residential real estate development in Texas. It marks the Hunt family’s second real estate development firm.
Real estate is one of many businesses overseen by the Hunts, with the Kansas City Chiefs, FC Dallas Soccer Club, Toyota Stadium, the Chicago Bulls and United Center among its other entities.