EastGroup Properties has broken ground on Denton Exchange 35, a two-building, Class A 244,000-square-foot industrial development in Denton, Texas. Alliance Architects, GMcivil and Rosenberger Construction are part of the team delivering the project.
Stream Realty Partners Senior Vice Presidents Forrest Cook and Mac Hall alongside Associate Connor Land will handle the future industrial complex’s leasing services.
Spread out on a 20-acre lot, the project will accommodate up to six tenants across its two buildings, according to CommercialEdge data. Across both buildings, plans call for a total of 53 dock-high doors, four ramped doors, 239 parking spaces, as well as 34 trailer parks with the possibility of expanding to 110. Building One will feature a 210-foot-deep rear load while Building Two is set to present a 260-foot-deep front load.
Industrial Development in Dallas-Fort Worth
Located at 6901 N. Interstate 35, the project is nestled at the intersection of interstates 35 W. and 35 E. Denton Enterprise Airport is less than 5 miles east, while U.S. Route 380 is under 2 miles northward. Less than 30 miles away, EastGroup Properties is constructing Basswood 35. The firm broke ground on the project’s phase two last year, setting into motion the construction of three buildings totaling north of 350,000 square feet.
A recent CommercialEdge report reveals that nearly 419.8 million square feet of industrial space were underway nationwide as of February. The Dallas-Fort Worth metroplex had 27.2 million square feet under construction, representing 2.9 percent of stock. The Metroplex’s supply pipeline was eclipsed only by Phoenix’s, which rose up to 42.6 million.
Just last year, developers brought online 61.9 million square feet of industrial space in Dallas-Fort Worth, accounting for 6.6 percent of stock, according to a recent market update. During the same period, developers broke ground on 19.1 million square feet inside the Metroplex.
The post EastGroup Properties Breaks Ground on DFW Industrial Project appeared first on Commercial Property Executive.
In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings.
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