DALLAS – Ridge Development, the industrial development arm of Transwestern Development Co., will start a 1.6 million SF spec industrial project at the northwest corner of Interstate 20 and State Highway 360 in Arlington, near Dallas.
The 119-acre project, called Park 20/360, is owned by a venture between Invesco and Ridge Development. Ground breaking is set for the second quarter.
“The confluence of a thriving Texas economy with continuing solid fundamentals, record-setting occupancy within the Great Southwest Industrial District, a diverse commercial make-up in Dallas-Fort Worth and an outstanding location warrant the development of such a large project on a speculative basis,” said Kent Newsom, executive vice president at Ridge Development. “Park 20/360 is divided into three different types of space to accommodate multiple industrial user types including bulk distribution, warehouse and flex.”
Phase I will consist of four buildings totaling 1,249,560 square feet and is expected to deliver in first-quarter 2017. Phase II, also comprising four buildings, will total 356,060 square feet. It is scheduled to break ground in third-quarter 2017 with full delivery expected in second-quarter 2018. Transwestern’s Vice President Joe Rudd and Principal John Brewer are providing leasing services.
The Park 20/360 site is located inside a Triple Freeport Tax Exemption zone and is a gateway location within the Great Southwest Industrial District, which consists of more than 100 million square feet of distribution and manufacturing space. The site is approximately 18 miles from the Dallas-Fort Worth International Airport and is in close proximity to the Arlington Highlands lifestyle center, AT&T Stadium and Globe Life Park in Arlington.
Park 20/360’s buildings will accommodate users from 20,000 square feet to 715,000 square feet.
The development consultants include:
- Architect: Alliance Architects Inc.
- Civil engineering: Pacheco Koch Consulting Engineers Inc.
- Geotechnical and environmental: Professional Services Industries Inc. (PSI)