Jackson-Shaw has acquired 169 acres in Fort Worth at the intersection of Altamesa Boulevard and Campus Drive to build 46 Ranch Logistics Park, the company said in a news release.
At total build-out, the project will have 2.2 million square feet of Class A industrial space, beginning with a speculatively built first phase of 560,000 square feet in three buildings, with additional land available for build-to-suits up to 800,000 square feet under one roof.
The news release said that separately, an undisclosed manufacturing company has purchased 45 acres of the 169 acres to build a new state-of-the-art manufacturing facility.
“This was one of the last few rail-served land sites remaining in south Fort Worth large enough to accommodate the size of the company’s new facility,” said Grant Pearson, vice president of development at Jackson-Shaw. “This was a major factor in site selection; the new facility will generate jobs and create a positive impact on the surrounding communities.”
Jackson-Shaw worked with the City of Fort Worth to rezone the land from single-family residential to medium industrial.
The company said the rezoning aligns with the city’s strategic plan to have a higher percentage of commercial and industrial use in its tax base.
Part of the funding from this deal will be used for infrastructure improvements, including the extension of Altamesa Boulevard. Phase I construction is scheduled to start June 2020 with substantial completion scheduled for Q2 2021.
“The standard for Jackson-Shaw has always been a grade above, and 46 Ranch will be no different,” said Seth Koschak, managing director of Stream Realty Partners’ Fort Worth office. “The project will accommodate a diverse user profile while maintaining the heritage of 46 Ranch, which is not found in typical industrial development.”
Ridgemont Commercial Construction is the general contractor for the project, with GSR-Andrade as the project’s architect, Halff Associates as the civil engineering firm and Liberty Capital Bank as the lender. Koschak, Jeff Rein and Luke Davis of Stream Realty Partners are managing the leasing assignment for the development.
Jackson-Shaw, a national real estate development company headquartered in North Texas, has developed more than 62 million square feet since its founding 48 years ago.
Stream Realty Partners has regional offices in Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Fort Worth, Greater Los Angeles, Houston, San Antonio, San Diego and Washington, D.C.