New Garland industrial park will have two warehouse buildings

A Dallas real estate investor has teamed with an Atlanta-based developer on a new industrial park in Garland.

Dallas’ Colony Industrial and Huntington Industrial Partners of Atlanta bought more than 21 acres on Marquis Drive near Miller Road for the new warehouse project. The development will include two light industrial buildings totaling 355,071 square feet.

“The Marquis development in Garland is ideally designed for e-commerce distribution and customers requiring space for last-mile delivery,” Lew Friedland, managing director at Colony Capital and head of Colony Industrial, said in a statement. “It’s an excellent example of the properties we have under development that will add to our growing portfolio of infill warehouses in major markets around the U.S.”

Construction will begin in April with completion in late 2019.

The Marquis Development in Garland is one of five warehouse projects Colony Industrial has under construction nationwide. It also has an 110,000-square-foot industrial building under development at 9749 Clifford in northwest Dallas. Other projects are being built in Florida and Nevada.

“We have little to no vacant space available in many of our markets,” Friedland said. “Developing these new projects will provide expansion space for our existing customers as well as enable us to take advantage of the favorable supply/demand balances in these locations.”

Colony Industrial has more than 7.4 million square feet of warehouse space in North Texas, plus buildings in Houston, Austin and San Antonio.

Josh McArtor and Caitlin Clinton of Eastdil Secured brokered the land purchase.

Colony Industrial is a subsidiary of Los Angeles Colony Capital, which owns 40 million square feet of warehouses in the U.S. Development partner Huntington Industrial Partners has multiple warehouse projects in the Dallas-Fort Worth area.

Steve Brown, Real Estate Editor

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Amazon cancels HQ2 in New York City; Dallas, Austin could get more jobs at existing hubs

Amazon technology hubs in Dallas and Austin could gain new jobs as a result of Thursday’s stunning announcement that the online giant was dropping its major expansion into New York City.

The Seattle-based company said it won’t reopen its HQ2 search, which saw unprecedented interest from cities across America, and instead will proceed with major expansion projects in Washington, D.C., and Nashville and hire and expand at its existing 17 tech hubs in the U.S.

The company isn’t detailing yet how many jobs it’ll add in cities like Dallas and Austin, Boston, Toronto and Los Angeles.

Amazon has about 500 employees in North Dallas now in its retail and Amazon Web Services businesses. It also has more than 11,000 workers in fulfillment and sorting centers around Dallas-Fort Worth. In December, the company announced plans to build a regional air hub at Fort Worth’s Alliance Airport, pledging to bring hundreds more jobs to North Texas.

Maria Halkias, Retail Writer

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More warehouses on the way at Alliance Texas north of Fort Worth

Developers of the huge AllianceTexas development north of Fort Worth are ramping up for another round of construction.

Building is starting soon on three speculative warehouse projects that will add about 1.5 million square feet of industrial space, according to developer Hillwood.

The new warehouse starts come just a week after Hillwood disclosed that it was leasing more than 1 million square feet of warehouse space at AllianceTexas to toolmaker Stanley Black & Decker for a huge regional warehouse.

The developer said it needs more industrial buildings to keep attracting major tenants.

Steve Brown, Real Estate Editor

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Huge shipping hub north of Fort Worth will bring 300 new jobs

 

A massive shipping hub for tool manufacturer Stanley Black & Decker is bringing more than 300 jobs to the AllianceTexas development north of Fort Worth.

Stanley Black & Decker is putting its new 1.2-million-square-foot regional distribution center in a warehouse building developed by Hillwood Properties in Northlake.

The giant distribution complex is at the intersection of Interstate 35W and State Highway 114 in the Alliance Northport business park.

 

Steve Brown, Real Estate Editor

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New office project on the way at Frisco’s $1 billion Gate development

Frisco’s $5 billion mile is getting a new office and retail development called the Auspire.

The 3-bulding development is part of The Gate mixed-use project on the Dallas North Tollway.

The Gate’s Dubai-based owner Invest Group Overseas and developer Ryan Cos. are partnering on the 900,000-square-foot project.

The Dallas office of commercial real estate firm Avison Young has been hired to market the office buildings to businesses.

“Auspire has a prime, high-visibility location on the Tollway, striking architectural features and abundant nearby amenities,” Paul Rowsey, Vice-President of Development for Ryan Cos., said in a statement. “We are in an advantageous position to respond to the strong corporate demand for office space in Frisco.

“Auspire is at the heart of where corporate America in Dallas has located and continues to locate,” he said. “It is surrounded by a quality workforce, schools that are rated exemplary, convenient amenities and homes that serve the corporate tenant well.”

Rowsey said the project that has eight acres fronting the west side tollway is ready to break ground. Avison Young is hunting tenants for the project.

Steve Brown, Real Estate Editor

 

D-FW topped the country in new construction jobs in 2018

North Texas had the largest gain in construction employment in the country last year, adding more than 22,000 jobs in the sector.

Houston was second, with a 19,400-job increase in total construction employment in 2018, according to a new report from the Associated General Contractors of America.

“Construction employment continued to expand in most parts of the country in 2018 as demand for many types of construction projects grew,” Ken Simonson, the contractors association’s chief economist, said in the report. “As welcome as the job gains were, many firms would likely have added even more workers if labor market conditions were not so tight.

Steve Brown, Real Estate Editor

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Huge Salesforce lease takes Uptown’s new Union office tower to the 90 percent mark

Uptown Dallas’ newest office project has landed one of the district’s biggest tenants yet.

The multifloor rental to customer service giant Salesforce will take the 22-story Union office tower to 90 percent leased.

California-based Salesforce will consolidate workers now in several Dallas buildings into the new high-rise on Field Street just north of downtown.

Salesforce will have high-profile signage on the 420,000-square-foot office building, which opened in October.

Other major office tenants in the Union include accounting firm Weaver, law firm Akin Gump Strauss Hauer & Feld LLP, Transwestern, StreetLights Residential and hedge firm HBK Capital Management.

“The Salesforce lease was the largest lease executed in the Uptown area in 2018, and we are fortunate for it to be with The Union,” said John Brownlee, a principal at Peloton Commercial Real Estate, which leases the office tower.

Steve Brown, Real Estate Editor

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