GRAND PRAIRIE- Grand Prairies industrial real estate market is rebounding in a big way thanks to its excellent location and proactive Economic Development staff. Complete opening of State Highway 161 from Interstate 20 to Interstate 30 has streamlined travel to and from the city making it a prime hub for distribution. More than 7 million square feet of new industrial space is underway or recently completed in Grand Prairie.
Crow Industrial Holdings Projects
Crow Industrial Holdings, an affiliate of Dallas-based Crow Family Holdings, has plans for Grand Prairies Wildlife Commerce Park, a new 220-acre business park located north of I-30 at Belt Line Road and Wildlife Parkway. Phase 1 of the business park will encompass approximately 2,785,000 square feet, and development is underway on the first 315,000-square-foot building. Phase 2 of the business park will incorporate 58 acres of land that will be held out for retail development. Crow will construct the interior roadways and infrastructure at the site.
Crow also purchased more than 24 acres at 1025 Post & Paddock, the site of the former 400,000-square-foot Pitney Bowes warehouse destroyed by fire in 2011, and has begun construction on a new 417,652-square-foot building. The Post & Paddock property is one of the few industrial land sites outside of DFW International Airport that is designated with Foreign Trade Zone status.
Crow most recently acquired and renovated a 117,060-square-foot former U.S. Postal Service building on Avenue S.
Logistics Crossing I
Weeks Robinson closed on 75 acres of industrial land at the 3000 block of West Marshall Drive, and is constructing Logistics Crossing I, a 667,635-square-foot speculative industrial building. Operated and managed by Weeks Robinson Properties of Atlanta, Georgia, the project will total an estimated 1,435,000 square feet upon completion.
RiverPoint Commerce Center
RiverPoint Industrial purchased a more than 42-acre light industrial site in the 3000 block of Roy Orr Boulevard. The project will be developed and managed by Stream Realty Partners DFW, a full-service private commercial real estate firm based in Dallas. Construction of the new 602,804-square-foot RiverPoint Commerce Center is anticipated to begin before the end of March.
Oakmont Industrial Group
Atlanta-based Oakmont Industrial Group purchased a more than 29-acre site at the southwest corner of Roy Orr and Rock Island Road. Construction is underway on a 520,326-square-foot speculative light industrial building. Completion date is estimated to be May 2014.
Build to Suits
Weeks Robinson recently completed construction on a new 858,500-square-foot distribution facility for California-based Restoration Hardware. Located on a 50-acre site, the build-to-suit facility is situated in a prime industrial area at the corner of Pioneer Parkway and SH 161. With an anticipated value in excess of $50 million, the campus includes an eight-acre park located on the eastern portion of the site that contains a natural wetlands area. The campus park also features enhanced landscaping, walking trails, and an outdoor seating area.
Grand Prairie Industrial Development
Seefried constructed 277,200-square-feet of industrial space for Fruit of the Earth, a producer of natural personal care projects.
DXP, an industrial supply and equipment distributor, is relocating from Dallas to an 80,000-square-foot distribution center on 8.5 acres at 1510 Shady Grove.
Fabco, a rebar manufacturing company, will relocate from Irving to an 80,000-square-foot warehouse at 1402 Shady Grove.
Continental Tire has relocated its North Texas distribution center from South Dallas to 378,285 square feet at the Grand Lakes Industrial Park on I-30 and Gifford St.
California-based Dreisbach Enterprises, a third-party logistics provider specializing in refrigerated warehousing, entered into a long-term lease of the 128,000-square-foot building at 1350 Avenue S formerly occupied by Martin Brower. Dreisbach was awarded the North Texas contract for Jetro Wholesale Groceries & Foodservice Supplies, a leading wholesale turn-key stock store serving grocery retailers and foodservice operators.
"The ability of the North Texas industrial market and, in particular, the Great Southwest Industrial Park submarket, to weather the national economic storm is substantially due to our central location, key infrastructure, and accessible highway corridors to all major U.S. routes, said Terry Jones, Industrial Business Manager for Grand Prairie Economic Development. Our diverse economy and strong housing market continues to drive job growth and demand for industrial real estate in North Texas."