Hines adds 240K sf industrial property to North Texas portfolio

The future three-building business park will be just off Interstate 35E

Jeffrey Hines and Red River Business Park in Lewisville (Hines)
Jeffrey Hines and Red River Business Park in Lewisville (Hines)

Hines plans to add yet another industrial development in North Texas, this time in Lewisville.

The Houston developer is planning to add a three-building business park near Interstate 35E to its lengthy North Texas portfolio, according to the Dallas Morning News.

Red River Business Park in Lewisville (Hines)

The almost 240,000-square-foot Red River Business Park is set to start construction this summer and open in early 2023. The largest of the buildings will be approximately 112,000 square feet.

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The developer also has its $25.8 million Northlink Logistics Center in north Fort Worth in the works, in addition to its collaboration with commercial mortgage lender Trez Capital on a 414-acre gated community of single-family homes in McKinney.

In southern Dallas County, the developer built a more than 1-million-square-foot distribution center which was leased to Amazon then sold to a New York investor. new Dallas office projects in Deep Ellum and Uptown.

North Texas is the country’s biggest industrial building market, with more than 50 million square feet of new warehouse space under development.

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[Dallas Morning News] – Maddy Sperling