Hines building 420K-sq-ft spec warehouse in Wilmer
The $25 million facility will dwarf the 240K-sq-ft warehouse Hines is building in Lewisville
Real estate heavyweight Hines is going big on Dallas industrial with a new spec warehouse development spanning more than 420,000 square feet in the Dallas suburb of Wilmer.
The firm is set to finish the facility by the end of next year at a cost of $25 million.
This is far from the company’s first industrial venture in Dallas, as they also announced the construction of a three-building, 240,000-square-foot business park in Lewisville earlier this year.
Hines Pleasant Run, as the Wilmer project is called, will be one of the largest industrial projects the firm has undertaken since launching its $625 million investment fund last year.
This new development is just the latest in a wave of industrial projects sprouting in the Dallas-Fort Worth area in the last year alone. The Texas industrial pipeline is one of the biggest in the nation, but recent reports suggest the market is at risk of building too much.