Cabot Properties, a private equity real estate investment firm located in Boston, and Stream Realty Partners, a national real estate services, development and investment firm, are pleased to announce the groundbreaking of Trinity Crossing, a new 322,853 square foot industrial development in business-friendly Grand Prairie, TX.
The two-building, master-planned development is located at the intersection of Roy Orr and Trinity Boulevard on an 18.4-acre site in the Great Southwest submarket. This site is the net result of an aggregation of three tracts of land totaling 40 acres and the simultaneous sale of 21 acres to a third-party. The 144,187 square foot rear-load building and the 178,655 square foot front-load building will accommodate tenants from 35,000 square feet up to 175,000 square feet. The site is ideal for tenants, employees and customers to easily access from any location in the Dallas/Fort Worth metroplex.
“We are excited to officially break ground at Trinity Crossing as we continue to grow our footprint across Dallas – Fort Worth,” said Damian Bailey, Cabot Properties’ vice president of investments. “The City of Grand Prairie has been exceptional to work with in getting this project started.”
Cannon Green, co-managing director and partner of Stream’s Dallas industrial team, will oversee the development of the project. Mr. Green will team with Luke Davis, an Associate at Stream, to market and lease the project. Steve Riordan, construction manager of Stream’s construction division, will manage the project through completion. The project is expected to deliver in the second quarter of 2016.
“We are confident that tenant demand will continue to outpace supply in the Great Southwest submarket, and Trinity Crossing will provide us with the ability to capitalize on that dynamic,” said Cannon Green, co-managing director and partner of Stream’s industrial team. “Interest in the project has been substantial and we expect it to increase as we move closer to 2016.”
About Cabot Properties Cabot Properties is a private equity real estate investment firm. The firm is a leading investor, developer and operator of industrial properties throughout North America and the United Kingdom. Formed in 1986, Cabot has invested $6.4 billion in industrial real estate, managing and operating over 3,000 tenants in more than 145 million square feet.
About Stream Realty Partners Stream Realty Partners, L.P. is a full-service real estate investment, development and services company. Since its formation in 1996, Stream Realty has grown from its two original partners to a staff of over 550 real estate professionals nationwide with office locations in Atlanta, Austin, Charlotte, Dallas, Denver, Ft. Worth, Houston, Southern California, San Antonio and Washington, D.C. Stream Realty leases and/or manages more than 120 million square feet of commercial buildings across the nation; completes over $1.6 billion in real estate transactions annually; and is considered one of the most active investors and developers in the Southwest.