PARTNERS BREAK GROUND ON TRIO OF INDUSTRIAL BUILDINGS NEAR AIRPORT
Nov 9, 2012 | D Magazine
Trammell Crow Co., along with Clarion Partners and Rosewood Property Co., has kicked off construction of three industrial properties at International Commerce Park near Dallas/Fort Worth International Airport. DFW Trade Center Buildings 6, 7, and 9, which total about 1 million square feet, will be ready for occupancy in June of 2013.
Scott Krikorian, managing director for Trammell Crow, said the company has built nearly 6 million square feet of Class A industrial space at DFW Airport. "We believe strongly in the North DFW industrial market," he said. "We have two great partners that continue to believe and invest in Dallas-Fort Worth."
International Commerce Park is a master-planned business park at D/FW Airport, which provides a Foreign Trade Zone designation with Triple Freeport tax exemption.
The 500,000-square-foot Trade Center 6 will sit on 27-acres at the corner of Corporate Dr. and Esters Blvd. and offer 32′ clear height. Trade Center 7, at 297,500 square feet, will sit west of Trade Center 6 at the corner of Esters Blvd. and Regent Blvd. on 18-acres and feature also offer 32′ clear height. Trade Center 9 will comprise 202,500 square feet on 17-acres located across Regent Blvd. from Trade Center 7 with 28' clear height.
Steve Trese, first vice president with CBRE's Dallas office, will oversee leasing of the properties. "With the continued job creation throughout Texas, we have seen an increasing demand for large blocks of industrial space," he said. "We believe this project's proximity to DFW International Airport and major highways will attract quality industrial, logistics and warehouse companies."
Here is more information on the partners, taken from a Trammell Crow press release:
• Clarion Partners has been a leading U.S. real estate investment manager for more than 30 years. Based in New York, the firm has offices in major markets throughout the United States, in São Paulo, Brazil, and London, England, as well as a presence in Mexico. With more than $25 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors.
• Dallas-based Rosewood Property Co. is a wholly owned subsidiary of The Rosewood Corp., which is a wholly owned subsidiary of the Caroline Hunt Trust Estate. The Rosewood Corp. is a diversified investment company with holdings, through its subsidiaries, in real estate, oil and gas, private equity, ranching, and other investments. As the real estate investment arm of The Rosewood Corp., Rosewood Property Co. and its affiliates have an extensive portfolio, including investments in land, office, industrial, retail, and multifamily assets, as well as investments in the equity securities of public and private real estate investment companies.
• Trammell Crow Co., founded in 1948, is one of the nation's leading developers and investors in commercial real estate. It has developed or acquired more than 525 million square feet of buildings with a value exceeding $55 billion. As of Sept. 30, 2012, Trammell Crow Co. had more than $4.6 billion of projects in process and $1.9 billion in its pipeline. The company is an independently operated subsidiary of CBRE Group Inc. (NYSE:CBG).
ARTICLE ORIGINALLY FROM: D Magazine