As commercial real estate deal flow slowed in Texas toward the end of the year, a flurry of filings for industrial developments came down this week.
Brennan Investment Group filed to build a 395,000-square-foot warehouse at 21540 Kraus Loop in Laredo. Part of the Pinnacle Industry Center, the project is expected to cost around $36 million. Work is slated to begin in February, according to the filing. It was designed by Redline Architecture.
Brennan’s industrial portfolio spans 553 properties for a total of 52 million square feet across 27 states, according to its website.
In Irving, Trammell Crow Company is building the seventh building in its Passport Park West development. The warehouse is expected to cost $12 million and cover 220,000 square feet. Work is slated to begin in February and run through March 2025. The Passport Park West as a whole will cover 180 acres and produce 1.7 million square feet of industrial space, the Dallas Morning News reported.
Passport Park West, near the DFW Airport, follows up another Trammell Crow airport industrial project that included four buildings and some 2 million square feet of space.
Read more
Commercial
New York
Starwood, Onyx pay $146M for LI industrial portfolio
Commercial
National
Industrial market falls back to pre-pandemic levels
Commercial
National
Amazon to double same-day delivery hubs
Meanwhile, in Roanoke, Beacon Land Company filed to build a 73,000-square-foot industrial shell building on Fairway Drive. Work will begin in January, according to the filing, and cost about $10.5 million.
Killeen will get another 100,000 square feet of storage space in the form of a Luv’s Storage. The project will include two climate-controlled buildings, six storage buildings and five RV and boat storage buildings. The estimated cost listed on the filing is $18 million. The developer attached to the project is BSO Mayo Real Estate Holdings.
Even as supply increased dramatically this year, speculative industrial starts are still hot in Dallas-Fort Worth, according to JLL. The metroplex leads the nation in new industrial development activity, peaking earlier in 2023 at nearly 67 million square feet.