FORT WORTH, TEXAS – May 3, 2017 – Trammell Crow Company (TCC) and joint venture partner PGIM Real Estate have begun construction on Phase II of 35-Eagle industrial park in Fort Worth, Texas. Project plans for the 106-acre site include three new industrial buildings: Building A, a 1,089,642-square foot cross-dock warehouse; Building H, a 312,654-square-foot rear-load warehouse; and Building J, a 233,961-square-foot cross-dock warehouse. Completion for all three buildings is expected for late 2017.
This is the second phase at 35-Eagle. The joint venture partnership completed Phase I, which is comprised of two Class A+ buildings totaling nearly 1.6 million square feet in the fourth quarter of 2014. Shortly after completion, Phase I secured long-term leases with two investment grade tenants to reach 90 percent occupancy. Buildings B and D were sold to Heitman, a real estate investment management firm, in late 2016.
“We are extremely pleased to continue our work with PGIM Real Estate on Phase II of 35-Eagle,” said Scott Krikorian
, Senior Managing Director of TCC’s Dallas/Fort Worth Business Unit
. “35-Eagle provides tenants modern amenities and efficient access to local highways, intermodals and airports.”
Located at the NW Corner of I-35W and Eagle Parkway, the project is adjacent to Alliance Airport, the world’s first 100 percent industrial airport designed for cargo and corporate aviation, and offers efficient ingress and egress along I-35W, as well as north and southbound exits and entrances at Eagle Parkway and I-35W. The project is also located within three miles from the headquarters for the BNSF Railway, the second-largest freight railroad network in North America. Ownership will seek LEED® certification on all three buildings.
Alliance Architects, Inc. is the project architect. Conlan is the general contractor and Halff Associates, Inc. will serve as the civil engineer. Steve Trese and Bob Scully with CBRE Dallas are leasing and marketing the project.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired more than 2,600 buildings valued at more than $60 billion and over 565 million square feet. As of March 31, 2017, TCC had $5.9 billion of projects in process and $5.1 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). For more information visit www.TrammellCrow.com.
About PGIM Real Estate
PGIM Real Estate is the real estate investment business of PGIM Inc., the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU). Redefining the real estate investing landscape since 1970, PGIM Real Estate has professionals in 18 cities in the Americas, Europe and Asia Pacific with deep local knowledge and expertise, and gross assets under management of $66.0 billion ($47.6 billion net) as of December 31, 2016. PGIM Real Estate’s tenured team offers to its global client base a broad range of real estate investment vehicles that span the risk-return spectrum across core, core plus, value-add, debt, securities, and specialized investment strategies. For more information, visit www.pgimrealestate.com.