It’s like a condo for your cars. Garages of America plans to build a $30 million luxury storage facility in the Dallas-Fort Worth suburb of Carrollton.
The Dallas-based firm has built nine locations for its concept, all in Texas, and has two others under construction, according to its website. It offers ownership of climate-controlled garages, which buyers can finish out themselves. This 124,000-square-foot project works out to almost $242 per square foot and is adjacent to another Garages of America building at 2323 Tarpley Road. Construction is expected to be completed in the first quarter of next year, according to a filing with the Texas Department of Licensing and Regulation.
A California investor went big with its latest industrial acquisition in North Texas. Westcore Realty bought the Railhead Business Station, which spans 520,000 square feet across four buildings in North Fort Worth, the Dallas Morning News reported. The buildings are part of the 366-acre Railhead Industrial Park. Stream Realty Partners brokered the transaction. This is only Westcore’s latest deal in Dallas-Fort Worth. The San Diego-based firm bought a 300,000-square-foot warehouse in Rockwall last month and the three-building, 485,000-square-foot North Quarter 35 in North Fort Worth earlier this year, the outlet said.
Scout Capital plans to invest almost $18 million to develop an 88,000-square-foot cold storage building in Lancaster, south of Dallas. That’s about $204 per square foot. The Florida-based firm expects to start construction in September and finish in May 2025, according to a TDLR filing.
A China-based supplier of electric vehicle parts has leased 55,000 square feet of industrial space in Fort Worth. Junchuang North America, a subsidiary of Suzhou Junchuang Auto Technologies, plans to employ about 120 people in the 46 Ranch Logistics Park, the Dallas Morning News reported. Jackson Shaw developed the complex after buying the land in 2020.
A Japanese investor is backing Falcon Commercial Development’s latest project in southeast Fort Worth. Dallas-based Falcon plans to build the 240,000-square-foot Oak Creek Distribution Center at 4851 East Loop 820, the Dallas Morning News reported. Newmark helped the firm arrange a joint venture equity agreement with Diamond Realty Investments, the real estate arm of Mitsubishi Corporation.
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Meanwhile, residents in that part of Fort Worth are fed up with industrial development in their neighborhood and have asked the Fort Worth City Council to take action. At the same Aug. 8 council meeting where neighbors from Echo Heights complained, city council voted unanimously to give Empire Holdings permission to start four new light industrial developments in the neighborhood, the Fort Worth Report reported.
Microsoft is investing almost half a billion dollars to build data centers in the San Antonio area. The tech giant has two projects in the works totaling $446 million, the San Antonio Report reported. Since 2015, Microsoft has invested about $1.2 billion building eight data centers in the region, the outlet said.
Carr Lane Manufacturing recently moved into a 50,000-square-foot building 17 miles from its previous location in Austin. The St. Louis-based parts manufacturer spent $12 million to build the facility in the Elgin Business Park on Roy Rivers Road.