Houston-based developer Hines and AEW Capital Management have began construction two new buildings totaling 191,262 square feet in Irving.
The office and industrial buildings are the second phase of the Parc 114 Business Park located at 6501 North Belt Line Road, south of State Highway 114.
Parc 114 is a 52-acre development with six industrial buildings totaling 404,777 square feet. Tenants in the project include Chrysler Group LLC, Nautilus Hyosung America, Nissan and Walgreens.
Hines bought the development last year.
The two new buildings will be finished early next year.
Stream Realty Partners is leaving and managing the property.
The Irving project is “the first of multiple industrial projects we intend to develop in Dallas,” Hines managing director Drew Steffen said in a statement.