Image courtesy of NAI Robert Lynn
EastGroup Properties has broken ground on the second phase of its Basswood 35 industrial development in Fort Worth, Texas.
Phase II of the Class A project will consist of three buildings totaling 351,000 square feet. The site will ultimately host a total of seven buildings. The 882,000-square-foot complex will be situated on 61.5 acres near I-35 W, with construction expected to wrap by the end of 2023.
One building will have 89,741 square feet of space available, while the other two will have 130,750 square feet each, including space for rear load and front load configurations and multiple storefront entries.
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Phase III of the project will ultimately see the construction of a 96,000-square-foot rear load and 197,400-square-foot cross dock building on the site.
A NAI Robert Lynn team led by Managing Principal & Fort Worth President Todd Hubbard, Principal & Executive Vice President Michael Newsome, Executive Vice President Jeff Jackson and Transaction Manager Joe McLiney will represent EastGroup in the project’s leasing.
Phase I totaled 237,400 square feet across two buildings and was 100 percent preleased to a quartet of tenants before shell delivery.
Sun Belt-focused EastGroup owns over a dozen properties in the Lone Star State, including the 611,000-square-foot DFW Global Logistics Centre, near Fort Worth in Grapevine, Texas. The Jackson, Miss.-based company purchased the project in a $89.7 million deal in 2021.
The post EastGroup Properties Begins Phase II of Texas Project appeared first on Commercial Property Executive.
Dallas, Development, Industrial, News, South, EastGroup Properties
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