Crow Holdings Capital-Real Estate Plans New Industrial Development in South Fort Worth
FORT WORTH, Texas--(BUSINESS WIRE)--Dec 19, 2018--Crow Holdings Capital-Real Estate, in partnership with Rob Riner Companies, is developing a new, four-building industrial park in the DFW’s South Fort Worth submarket.
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Crow Holdings Capital-Real Estate, in partnership with Rob Riner Companies, is developing a new, four-building industrial park in the DFW’s South Fort Worth submarket. (Photo: Business Wire)
Located at the intersection of Joel East and Oak Grove Road, the venture’s second phase includes a 394,000 SF cross-dock facility, a 294,000 SF cross-dock facility, and two 187,000 SF front-load facilities.
The development plan also calls for the expansion of both Joel East and Oak Grove roads, widening the existing infrastructure and further improving trucking access to I-35W and I-20.
“We are very bullish on the DFW industrial market, especially South Fort Worth. We’ve had success delivering functional, Class-A logistics product in this submarket and the tenant demand is robust,” said Ben Doherty, Head of Industrial and Self-Storage Investment Strategies for CHC-RE.
“We have put an overall emphasis on delivering best-in-class functionality, and we believe that our layout for the next phase allows us to accommodate a wide range of tenant sizes and multiple market segments.”
After a history of successful ventures, Rob Riner of Rob Riner Companies will develop the master-planned park on behalf of CHC-RE. Mr. Riner brings over 16 years of extensive real estate experience covering the entire spectrum of industrial activities, from tenant representation, project leasing, building and land sales, investment property sales, asset management, acquisitions, dispositions, and development.
Matt Carthey and Thomas Grafton of Holt Lunsford Commercial will continue to oversee marketing.
“We’re excited to bring Phase II to market,” said Matt Carthey, Managing Principal and Partner at HLC. “Phase I totaled 488,554 SF in two cross dock facilities and leased within six months. We expect the same momentum moving into Phase II.”
“The premier location just southeast of the I-35W/I-20 interchange, coupled with exceptional labor and amenities, have been critical factors driving site selection in corporate America. Local and regional tenants are increasingly interested in occupying new, Class-A space.”
Matt added, “In addition to being able to service bulk and shallow bay users, Phase II will also bring the immediate expansion of Oak Grove and Joel East, providing exceptional internal ingress and egress throughout the park.”
Construction of all four facilities is expected to begin in Q1 2019.
About Rob Riner Companies
Rob Riner Companies (RRC) is a commercial real estate firm providing a full spectrum of services for the office and industrial sectors, primarily focusing on development and investment arenas in the Southwest. Commercial real estate is multi-dimensional, and RRC melds capital market knowledge and local market expertise to develop a successful pro-forma and asset management plan that exceeds client expectations. To learn more, visit http://robriner.com/.
About Crow Holdings Capital-Real Estate
Crow Holdings Capital-Real Estate (CHC-RE) is a real estate private equity investment manager with a 20-year track record. Led by a highly experienced team, CHC-RE’s series of eight flagship value-add funds has raised approximately $8 billion and is invested across property types in the United States’ top 25 markets. In addition, CHC-RE brings its value-add investment approach to specialized fund strategies including small retail and self-storage. CHC-RE is part of Crow Holdings, a nationally focused real estate investor, developer and owner with a global multi-asset investment platform. Headquartered at its historic Old Parkland campus in Dallas, the firm has 70 years of continuous operating history and longstanding industry relationships built on trust, integrity and partnership. For more information, visit http://crowholdingscapital-re.com.
About Holt Lunsford Commercial
Holt Lunsford Commercial is a values-based, customer-focused, full-service, third-party commercial real estate company. As a leading commercial real estate provider in Dallas, Fort Worth and Houston, HLC oversees 70 million square feet for private and institutional owners. The firm employs and cultivates highly talented professionals who desire an environment of innovation and leadership rooted in unwavering integrity. To learn more, visit http://www.holtlunsford.com/.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181219005134/en/
CONTACT: Abby Callison
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: Crow Holdings Capital-Real Estate
Copyright Business Wire 2018.
PUB: 12/19/2018 09:05 AM/DISC: 12/19/2018 09:05 AM