FORT WORTH – (Realty News Report) – Clarion Partners and Crow Holdings Capital in partnership with Rob Riner Companies, have acquired 556 acres for the development of huge industrial park in Fort Worth totaling seven million SF.
The master-planned business park, named Carter Park East, will be developed in multiple phases, including speculative and built-to-suit construction.
Site work at Carter Park East will begin this month. The first speculative phase of development, including improvements to Oak Grove Road, will deliver next summer.
“For such a big site, it is very infill,” said Andy Lowe, Managing Director at Clarion Partners, a New York-based firm. “Carter Park East’s location will provide tenants the access, labor, amenities, and functional modern distribution product that has, historically, not been available in south Fort Worth.”
Seth Koschak, Forrest Cook, and Jeff Rein with Stream Realty Partners, a national real estate services, development, and investment company, have been selected as the leasing team for the huge Industrial park in Fort Worth.
Koschak, Managing Director and Partner of Stream’s Fort Worth office, said, “It will serve as a true destination hub for tenants and provide something a bit different from other projects found in the marketplace by way of amenities and other offerings. We have a blank canvas, so if tenants need something unique or specific that is not typically found in speculative design, we have the ability to accommodate them and move swiftly.”
Industrial construction has been strong in recent years as traditional retail stores have lost market share. The shift to e-commerce has accelerated during the coronavirus pandemic as many stores remained shuttered. Amazon has a number of large distribution facilities under construction. The retail evolution has brought about a need for more distribution warehouses.
“Across the country, we continue to experience resilient demand for industrial space, particularly in high-growth Dallas-Fort Worth,” said Matt Colter, Managing Director of Industrial at Crow Holdings Capital.
July 9, 2020 Realty News Report Copyright 2020
