Dallas-based Stream Realty Partners LP and Cabot Properties have joined forces to develop two industrial buildings totaling 322,853 square feet at Roy Orr and Trinity boulevards in Grand Prairie.
Cabot recently purchased the property for a project to be known as Trinity Crossing.
Designed to accommodate tenants needing 30,000 to 175,000 square feet, the project’s central location – not to mention what Cabot called rising demand for Class A space – was key to the development plan.
“The opportunity to build a modern, state-of-the-art, industrial property in the Great Southwest submarket is very appealing to us,” said Damian Bailey, Cabot’s vice president of investments, commenting in a news release.
“Tenant demand for Class A, multitenant buildings is outpacing supply, and Trinity Crossing will provide us with the ability to capitalize on that dynamic,” Cabot said.
Stream Realty Partners, a national real estate services firm, will handle development and leasing. Cannon Green, managing director and partner of Stream’s Dallas office and Luke Davis, an associate, will oversee leasing. Steve Riordan, construction manager of Stream’s construction division, will oversee the project as it develops.
Trinity Crossing is expected to break ground later this month and is planned to open in the second quarter of 2016.
Stream Realty Partners LP is a full-service real estate investment, development and services company. Its staff works from Dallas, as well as offices in Fort Worth, Atlanta, Austin, Charlotte, Denver, Houston, Southern California, San Antonio and Washington, D.C. The firm leases and-or manages more than 120 million square feet of commercial buildings nationwide.
Cabot Properties, based in Boston, Mass., is a private equity real estate investment firm. It has invested $6.4 billion in industrial real estate, managing and operating more than 3,000 tenants in more than 145 million square feet.