A 300,000 square-foot industrial building is underway in Grand Prairie’s Grand Lakes area.
The speculative building will be located south of Interstate 30 and east of MacArthur Boulevard, and will be designed for tenants looking for 100,000 to 300,000 square feet of space, according to a release from Stream Realty Partners.
Dallas-based Stream Realty is developing the property for Heitman, an international real estate investment and management firm, which is acquiring the building on behalf of one of its affiliates.
Stream Realty’s Cannon Green said the location is one of the last two remaining land tracts in Grand Lakes.
“We are quite bullish on this location,” he said.
Drew Feagin, who will work with Green to oversee the leasing of the property, said he expects the project to be in high demand.
“The building’s in-fill location, presence on Interstate 30, modern features, and tremendous access to the highways will be highly sought after by industrial companies,” he said in a written statement.
The property is set to be completed in the third quarter of 2019 and will be leased and managed by Stream Realty.
Also involved in the development of the property are GSR-Andrade Architects, Kimley-Horn and The Conlan Company.
In December, Crow Holdings’ real estate investment arm announced that it would be adding 1.1 million square feet of industrial space also on the western side of the Metroplex.
Crow Holdings Capital-Real Estate and Fort Worth-based Rob Riner Companies plan to build a four-building industrial park in southern Fort Worth that will include two cross dock facilities spanning 394,000 square feet and 294,000 square feet, along with two 187,000-square-foot front-load facilities. Construction on the project, which is located at the intersection of Joel East and Oak Grove roads, is expected to start in the first quarter of this year.
Published by: Dallas Business Journal