Projects in Fort Worth and McKinney Will Add Nearly 2 MSF to Booming Region
December 21, 2021
DALLAS – Transwestern Development Company (TDC®) has responded to Dallas-Fort Worth’s exploding population growth and massive increase in e-commerce activity with its first industrial-focused development efforts in the region. In recent weeks, the firm began construction on nearly 2 million square feet in two separate speculative projects:
- Cowtown Crossing is a three-building, 1.02 million-square-foot logistics center located at the confluence of Highway 287 and I-35W in Fort Worth. The project, slated to deliver in late 2022, is strategically positioned in the North Fort Worth submarket with convenient access to various modes of transportation and nearby amenities.
- McKinney National Business Park comprises five buildings totaling 945,000 square feet in McKinney, Texas, approximately 32 miles north of Dallas. The 64-acre site is located adjacent to McKinney National Airport, which is currently lengthening its runway to allow larger aircraft access and the option for commercial travel.
“With so much positive momentum in the Dallas-Fort Worth region, TDC saw a strategic opportunity to expand the market’s industrial inventory through new development that can serve a variety of uses in highly desirable areas,” said Denton Walker, Regional Partner at TDC.
He continued, “Cowtown Crossing is a state-of-the-art warehouse and distribution facility that will meet the demands of sophisticated logistics operations, while McKinney National Business Park offers modern, tech-driven business park in a market that is experiencing growth across a variety of industries, such as healthcare, life sciences, technology and aerospace engineering.”
“Through a strong public-private partnership, TDC and the City of Fort Worth are meeting market demand needs while building needed road infrastructure,” said Fort Worth Councilmember Carlos Flores. “TDC has a deep understanding of the needs of logistics users, and we are confident that developments such as Cowtown Crossing will continue to attract companies to Fort Worth. The City’s Development Services team were creative in financing and finding solutions for this public-private partnership with TDC.”
Located at the intersection of US-75 and SH-121, McKinney National Business Park will be built in two phases, with Phase I delivering in fourth quarter 2022. The buildings can meet the needs of tenants interested in a build-to-suit opportunity or user sale.
"The City of McKinney has worked closely with TDC to bring much needed quality office and light-industrial product to the region,” said McKinney Mayor George Fuller. “An influx of companies are locating to our city, and the McKinney National Business Park is innovatively designed to accommodate the varying requirements of many different company types.”
Denton Walker and Wilson White lead the team for TDC in North Texas.
According to Transwestern research, Dallas-Fort Worth industrial users are absorbing more than 111,000 square feet per day. Dallas-Fort Worth leads the nation in net absorption over the last 12 months and the amount of industrial product under construction. Over the last year, 32 million square feet has been absorbed and industrial rents have grown by more than 7.4%.
At present, TDC has 38 industrial projects totaling 21.4 million square feet under construction, in pre-development or recently delivered nationwide, including more than 3.8 million square feet in Texas. Year to date, TDC has disposed of developed assets totaling more than $1 billion in markets across the country.
Renderings available for download here.
About Transwestern Development Company
Transwestern Development Company (TDC®) creates value through the execution of development projects for itself, its partners and valued clients throughout the United States. Part of the Transwestern companies, the diversified business develops logistics, multifamily, office, mixed-use and healthcare properties, with a pipeline of projects in process or completed since 2012 exceeding $7.1 billion.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.