Clarion Partners Lands 1 MSF Tenant at Texas Industrial Project

Carter Park East. Rendering courtesy of Stream Realty Partners

Clarion Partners and a Crow Holdings Capital-advised real estate fund have signed a roughly 1 million-square-foot lease with HomeGoods in Fort Worth, Texas. The build-to-suit agreement spans 20 years. In May, Clarion Partners welcomed FB Flurry at its 472,200-square-foot Class A industrial facility in Garland, Texas.

Located within the 556-acre Carter Park East, the new tenant’s building will encompass roughly 100 acres and will serve as the regional distribution hub for HomeGoods and subsidiary Homesense. Managing Director & Partner Seth Koschak, Senior Associate Jeff Rein and Vice President Forrest Cook from Stream Realty Partners represented the landlord, while CBRE Vice Chairmen Tony Kepano and Nathan Lawrence worked on behalf of the tenant.

Carter Park East is a master-planned industrial project south of Interstate 20 and east of Interstate 35 that will span up to 7 million square feet across multiple phases and feature both speculative and built-to-suit development, as well as upgrades to road infrastructure. Rob Riner Cos. serves as lead developer and is responsible for all phases of development.

According to Koschak, southern Fort Worth has grown as a primary industrial submarket in the Dallas-Fort Worth area, with completions topping 4 million square feet since 2017, with another 4.5 million square feet under construction. The metro recently topped the list of Sun Belt markets for industrial construction, as the ever-growing number of major employers relocating to the Metroplex has translated into increasing need for industrial space, particularly for e-commerce users.