Interstate Crossing, a newly constructed, 1,023,488 square foot distribution facility in Fort Worth, has sold. According to CBRE’s U.S. Industrial & Logistics Figures for Q1 2021, the industrial market shows no signs of slowing down. Companies are leasing space at a historically robust pace to accommodate the large increase in e-commerce sales. Nearly 100 million square feet was absorbed in Q1, the third-highest mark on record.
CBRE’s Jack Fraker, Randy Baird, Jonathan Bryan, Ryan Thornton, and Eliza Bachhuber with CBRE National Partners represented the seller, Hunt Southwest Real Estate Development, in the transaction. A publicly traded REIT purchased the long-term leased fulfillment center for an undisclosed purchase price.
Pennsylvania-based builder Exeter Property Group has filed plans for the largest Denton business park yet. The company plans to build an almost 1.5 million-square-foot warehouse project in the Exeter Westpark business park west of I-35. Construction is set to start in June, according to planning documents filed with the state. Richardson-based Alliance Architects is designing the new $60 million industrial park. Exeter Property Group recently leased an about 650,000-square-foot industrial building in the same area as Lowe’s. The company is also building in its Exeter Buckner business park off Buckner Boulevard.
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