A local developer is bringing a massive warehouse project to south Fort Worth.
Rob Riner Companies plans to develop 1.4 million square feet of space across two buildings at 7500 Oak Grove Road. The buildings are expected to cost $38 million and $31 million for 771,000 square feet and 645,00 square feet, respectively. That’s about $48 per square foot.
Construction has started, and the buildings could be completed in December 2024, according to filings with the Texas Department of Licensing and Regulation.
The buildings are in the 500-acre Carter Park East industrial complex, which Rob Riner has been developing for several years, the Dallas Morning News reported. Retailer HomeGoods has a major distribution center there, the outlet reported.
A New York-based investor made a significant land purchase near Dallas-Fort Worth International Airport. GTIS Partners recently bought 17 acres near State Highway 114, where it plans to build a 272,000-square-foot warehouse, the Dallas Morning News reported. It is the last major logistics development site in the area, the outlet said. GTIS has a $1 billion industrial portfolio, including properties in Houston and Fort Worth.
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Massachusetts-based High Street Logistics Properties recently purchased the three-building Mansfield Urban Industrial Park from Dallas-based Longbow Interests. The property at 1960-1962 Heritage Road in Mansfield was built in 2022. It comprises 268,000 square feet of warehouse space, and is 89-percent leased. Dustin Volz, Stephen Bailey, Dom Espinosa and Zach Riebe of Newmark Capital Markets represented the seller. The price wasn’t disclosed.
Rosewood Property Company secured a loan from Lincoln Financial Group to purchase the 170,000-square-foot Four Oaks Industrial Park at 17670 Four Oaks Lane in Schertz, near San Antonio. It was constructed in 2022. The amount of the loan and the sale price weren’t disclosed, and the seller couldn’t be determined. John Brownlee and John Bauman of JLL Capital Markets Debt Advisory helped secure the loan.