Transwestern brings $41M industrial project to North Texas boomtown

The first phase of Valley Parkway Business Park will include $41 million of industrial development.  

Houston-based commercial real estate company Transwestern is planning two warehouse shells totaling more than 800,000 square feet. One building, estimated to cost $18.6 million, will span 504,000 square feet, or just under $37 per square foot; a second building, estimated to cost $22.6 million, will be 316,000 square feet, over $71 per square foot, according to documents filed with the state. 

Construction is expected to start in August and wrap up in November 2025. The design firm for the project is Roanoke-based RGA Architects. 

The warehouses are just the first phase of the development of Valley Parkway Business Park, which will eventually include 10 office and warehouse buildings ranging from 150,000 to 442,000 square feet, Community Impact reported in November. 

Valley Parkway Business Park will be located on Spinks Road between South Valley Parkway and Duncan Lane. The project plans show that 20 percent of existing open space and 15 percent of tree canopy will be preserved at the site. 

Lewisville is about 25 miles northwest of downtown Dallas in Denton County. The city has a population of 136,000. It grew more than 22 percent between 2020 and 2023. Lewisville is located just north of DFW Airport, connected via State Highway 121. 

The city is also receiving a $50 million investment from telecom giant Ericsson, which plans to inject capital into its 5G Smart Factory in Lewisville, the Dallas Morning News reported last month. 

These projects are part of a boom in industrial development in North Texas, which is one of the fastest-growing industrial markets in the country. The region had nearly 40 million square feet of industrial space under construction at the end of last year. But demand has started to cool, and the asset class’ sublease market is growing. It reached 14 million square feet at the end of last year. 

Transwestern has 33 offices throughout the country. The firm’s industrial portfolio includes 55 properties, the majority of which are concentrated in north Fort Worth.

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