H Mart-Anchored Mixed-Use Project Coming to Fort Worth Suburb

A transformative project is on the horizon in Haltom City, a growing suburb north of Fort Worth.

A joint venture between the city, Mercantile Partners, KBC Advisors, Velocis and Haltom City Forest Properties recently started groundwork on a 50-acre mixed-use development at the corner of Northeast Loop 820 and North Beach Street, the Dallas Morning News reported.

The project will feature four industrial buildings, spanning more than 653,000 square feet to accommodate logistics and distribution. There will also be 16 acres of retail, anchored by an H Mart, the largest Asian supermarket chain in the United States.

Construction of the four industrial buildings, set to cost more than $42.6 million, is scheduled to begin in April or May. Dallas-based Velocis has teamed up with Mercantile Partners to oversee the industrial component, while Ware Malcomb serves as the designer.

The development is projected to infuse over $100 million in capital improvements into the area, with anticipated gross sales ranging from $80 million to $90 million, the outlet said. Beyond its economic impact, the project aims to attract businesses specializing in supply chain management and logistics, positioning Haltom City as a hub for industrial activity in northeast Tarrant County.

As industrial real estate trends evolve, Haltom City remains optimistic about the project’s long-term viability, despite projections of a slowdown in industrial starts for 2024.

Demand for warehouse space surged to unprecedented levels during the initial years of the pandemic due to a rise of e-commerce. While demand is still relatively strong in Dallas-Fort Worth, it appears that industrial developers got a little overzealous, with over 14 million square feet of industrial space flooding North Texas’ sublease market last year.

—Quinn Donoghue