Private equity real estate investment firm Cabot Properties is the latest company to capitalize on the health of the industrial market in Dallas-Fort Worth.
The firm has recently acquired an 18.4-acre site in Grand Prairie, Texas, where it will develop a two-building, 322,853-square-foot industrial facility. Dubbed Trinity Crossing, the project will rise at the intersection of the Roy Orr and Trinity boulevards, and will accommodate tenants from 30,000 up to 175,000 square feet. Trinity Crossing will be developed and leased by Stream Realty Partners, which expects to break ground on the project this month and have the buildings ready for delivery sometime in the second quarter of 2016. “The opportunity to build a modern, state-of-the-art, industrial property in the Great Southwest submarket is very appealing to us. Tenant demand for Class-A, multi-tenant buildings is outpacing supply, and Trinity Crossing will provide us with the ability to capitalize on that dynamic,” Damian Bailey, vice president of investments with Cabot Properties, said in a prepared statement.
By: Liviu Oltean
SOURCE: Commercial Property Executive