Harlan Crow may be busy dealing with political ethics investigations, but it’s business as usual for his firm Crow Holdings. The investment and development firm is moving ahead on a $38 million logistics center in Dallas, according to a filing with the Texas Department of Licensing and Regulation.
The project, called Riverfront Logistics Park, will include three buildings totaling 523,000 square feet at 1107 Conveyor Lane. It’s on an 37-acre undeveloped site adjacent to the Dallas Design District and the Trinity River. Costing about $73 per square foot, according to the filing, it’s expected to start construction this fall, with a late-2024 completion. Azimuth Architecture is handling design.
Industrial projects have been a hot ticket item for Crow Holdings, which builds millions of square feet of warehouse and logistics real estate a year. The firm has taken to building industrial projects using tilt-wall, which speeds up construction and involves pouring concrete panels into frames on the job site and then lifting and tilting them into place.
The industrial building trend is prevalent across DFW as the Metroplex leads the nation in incoming projects with over 60 million square feet of construction planned, according to JLL. Average industrial rent prices in North Texas have nearly doubled in the last decade from under $4 per square foot to nearly $8 now and continue to steadily climb. Some submarkets, specifically in the northern suburbs, have reached double digits for average rent costs.
Harlan Crow, the son of iconic Dallas real estate mogul Trammell Crow, has been a trending figure in the nation’s news cycle recently after ProPublica reports detailed how the Crow Holdings chairman has been providings trips and gifts to Supreme Court Justice Clarence Thomas for decades.
Harlan took over Crow Holdings in the late ’80s and used the Crow family’s substantial wealth to evolve the firm into an umbrella development and investment corporation that included Trammell Crow Residential, Crow Holdings Capital, Crow Holdings Industrial and Crow Holdings Office.
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Politics
Texas
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Dallas
Harlan Crow lavished Justice Clarence Thomas with gifts
Commercial
Dallas
Industrial construction, rents on upswing