On April 28, D CEO will reveal the winners of its ninth annual Commercial Real Estate Awards program. Leading up to the big event, we’re featuring all 83 finalists (51 projects and deals and 32 professionals), one category at a time. Below are the finalist in the Best New Industrial Project category.
3200 Irving Blvd.
Key Players: Cameron Deptula and David Guinn with Davidson Bogel Real Estate; M2G Ventures
3200 Irving is one of the largest contiguous sites in the Brookhollow market. This deal is one of the first signs that the gentrification seen in the Design District is starting to make its way west to the more traditional industrial centers on this side of Irving Blvd. the entire area. This deal’s significance is less about what the property will be transformed into and more about its long-lasting effects on surrounding properties and the market as a whole. The buyer, M2G Ventures, plans to transform 3200 Irving into a state-of-the-art destination for office, showroom, and industrial users of all kinds.
Carter Park East
Key Players: Clarion Partners, Crow Holdings Capital, Rob Riner Companies, and Seth Koschak with Stream Realty Partners
Clarion Partners and Crow Holdings Capital, in partnership with Rob Riner Companies, purchased 556-acres in South Fort Worth to build a state-of-the-art major industrial park—a vision that began more than a decade ago. Named Carter Park East, the 7-million-square-foot site will be developed for bulk e-commerce, food, manufacturing, and distribution-type companies. The project is also expected to develop further and improve critical road infrastructure around that area. The location will provide tenants the access, labor, amenities, and functional modern distribution product that has historically not been available in South Fort Worth.
Encore Wire Service Center
Key Players: Mike Kammerdiener with Encore Wire; Dan Elmore with Hill & Wilkinson General Contractors; Justin McCarthy with Merriman Anderson/Architects; and Arlyn Samuelson with Westwood Engineering
This new ground-up development is the single largest expansion and development for one of the nation’s largest wire cabling manufacturers. The Encore Wire campus also has the first FARS (Firefighter Air Replenishment System) in an industrial building in North DFW due to the building being over 500,000 square feet, a system typically reserved for high-rise buildings, not large single-story industrial buildings. The new service center project also begins compiling the owner’s land into a single property—Elm Street divided the original campus into a north and south parcel. Developers worked with the City of McKinney to reroute Elm Street to the north to landlock the entire campus.
Ericsson USA 5G Smart Factory
Key Players: Kyle Griffin and George Stacy with Cushman & Wakefield; Charles Meachum, Paul Konkus, Elad Peleg, Barbara Baffer with Ericsson
Ericsson targeted Lewisville for its first 5G manufacturing facility in North America. They needed a single facility to house its cleanroom production/testing functions, warehouse and shipping needs, and office/meeting/food service functions. No such facility existed in the Ericsson portfolio. Working with an aggressive timeline, Cushman & Wakefield worked with Ericsson to pioneer and optimized a layout for the manufacturing operations, which became the basis of design for the project. To date, 200 jobs have been created. The smart factory also utilizes 200 robots for its operation. Ericsson was awarded a $3.5 million Economic Development Grant through the Texas Enterprise Fund and other incentives from the County of Denton and the City of Lewisville.
International Logistics Center, Phase II
Key Players: Ryan Boozer, Sarah Ozanne, Charles Brewer, Cannon Green, and Matt Dornak with Stream Realty Partners; and Damian Bailey with Cabot Properties
Development partnership Stream Industrial Services and Cabot Properties had plans for a 425,000 square foot second phase development in their International Logistics Center project at the DFW Airport (Phase I of the project delivered in 2017). Litex hired the Tenant Representative team with Stream Realty Partners – Craftmade to negotiate a renewal and/or relocation of its facilities within the DFW Airport market. After a comprehensive market search, the team presented the yet-to-be-announced second phase, Building D, of the International Logistics Center. Together, Stream/Cabot and Litex agreed to a 10-year term on a build-to-suit facility for Craftmade’s operations, a consolidation of two Litex/Craftmade operations in the market. This project brought a pre-market asset to a client and made it possible for the client to consolidate facilities under one roof at substantial rent savings relative to the competing properties and renewals in their existing facilities.
Key Players: Jake Marks, Robert Brandt with Trammell Crow Company; Ming Lee with CBRE Global Investors, Tom Maxwell, Zack Weldy, and Chris Bruck with Alliance Architecture; Conland Construction; and Halff Associates
Trammell Crow Company executed a 40-year ground lease on 132.2 acres of land in the DFW Airport submarket. On this site, TCC has delivered Passport Park, which consists of four Class A industrial buildings totaling 2,050,474 square feet. Passport Park features a 1,136,050-square-foot cross-dock distribution center (Building 1), which is 100 percent leased to Uline, Inc; a 709,754-square-foot cross-dock distribution center (Building 2), which is 100 percent leased to Tempur Sealy and Bioworld; a 99,763-square-foot rear-load facility (Building 3), and a 104,907-square-foot rear-load facility (Building 4), which is 100 percent leased to Oatey Supply Chain Services. Passport Park is TCC’s 34th development at the DFW Airport.