Jackson-Shaw JV to Develop 1.8 MSF in Dallas-Fort Worth
Bank OZK and Affinius Capital provided $69 million in construction financing for this project.
Jackson-Shaw has partnered with Compatriot Capital for the development of Lakeview Business District, a more than 1.8 million-square-foot industrial campus in Rowlett, Texas, a Dallas-Fort Worth submarket. Groundbreaking is expected this March.
Peinado Construction serves as general contractor. Partners also include architecture firm Pross Design Group, civil engineer Kimley Horn and structural engineer Hunt & Joiner. The developer financed the project’s construction with a $69 million loan originated by Bank OZK and Affinius Capital, public records show.
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Construction on the 88-acre first phase is scheduled to start in March. Five buildings totaling more than 1 million square feet are planned. These will range between 88,000 and 417,000 square feet and will be a mix of front-, rear-load and cross-dock. Features will include 28- to 36-foot clear heights, 130- to 185-foot truck courts and between 25 and 94 dock-high loading doors.
The second phase is set to include two cross-dock buildings encompassing some 701,000 square feet. Those facilities will come online on an adjacent, 77-acre site.
The campus will rise along President George Bush Turnpike at Merritt Road and Liberty Grove Road, some 23 miles from downtown Dallas and 37 miles from Dallas-Fort Worth International Airport. The park will also be 3 miles from Capstar Real Estate Advisors’ 756,668-square-foot industrial development that is scheduled for completion next year.
The second-largest development pipeline in the U.S.
According to the latest CommercialEdge industrial report, The Metroplex had more than 33.6 million square feet of industrial space under construction as of December, taking the second spot for development nationwide. It was surpassed only by Phoenix (42.5 million square feet), but ranked first in terms of new construction starts last year, when 28.4 million square feet broke ground.
In December, KDC started work on a 422,000-square-foot distribution center for Oncor Electric Delivery Co. The project is part of Railport Business Park, a 1,700-acre master-planned development.
A few months earlier, Hillwood broke ground on two speculative industrial buildings measuring 224,616 square feet each. Scheduled for completion this quarter, the facilities are part of the AllianceTexas master plan.
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