Trammell Crow 35/Eagle Marks One of the Firm’s Largest Speculative Industrial Project in its 65-Year History
FORT WORTH, TX – January 7, 2014 Trammell Crow Company, one of the nation’s leading developers and investors in commercial real estate, and joint venture partner Prudential Real Estate Investors, the real estate investment management and advisory business of Prudential Financial, Inc. (NYSE:PRU), have completed the purchase of a 314.4-acre property located at the northwest corner of I-35W and Eagle Parkway in northeast Fort Worth and begun construction. The project, named Trammell Crow 35/Eagle, will comprise 1.6 million square feet of speculative industrial space, making it the largest project of its kind in Trammell Crow Company’s 65-year history in Dallas/Fort Worth. The project is expected to be completed in 2014. Full build-out of the park will include over 4.2 million square feet of office, retail and industrial product.
“We are pleased to continue our relationship with Prudential Real Estate Investors in the Dallas/Fort Worth Metroplex and deliver a Class A office and industrial product on the best sites in the area’s top submarkets,” said Scott Krikorian, Managing Director with Trammell Crow Company’s Dallas/Fort Worth Business Unit. “This is a milestone project for us and we’re excited to be a part of it. The Alliance market is a branded destination for sophisticated users and has a strong demand for first generation space. This development will provide tenants with modern amenities, as well as efficient access to local highways, intermodals and airports.”
Plans for the land site include two speculative industrial buildings, Building B comprising 1,041,879 square feet and Building D comprising 548,495 square feet, totaling 1,590,374 square feet of Class A space. The project is located less than a mile away from Alliance Airport, the world’s first 100% 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.
About Prudential Real Estate Investors
PREI® is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, the Middle East, Asia, Australia and Latin America. Headquartered in Madison, N.J., the company also has offices in Atlanta, Chicago, Miami, New York, San Francisco, Frankfurt, Lisbon, London, Luxembourg, Munich, Paris, Abu Dhabi, Mexico City, Sao Paulo, Beijing, Hong Kong, Seoul, Singapore, Sydney and Tokyo. In addition, the company has representatives in Milan. PREI has gross assets under management of USD $53.9 billion ($40.2 billion net), as of September 30, 2013. For more information, visit http://www.prei.com.
About Trammell Crow Company
Trammell Crow Company, founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of September 30, 2013, Trammell Crow Company had over $5.2 billion of projects in process and $1.6 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 15 major cities throughout the United States. The company serves users of and investors in, office, industrial, retail, healthcare, multi-family 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 offers large strategic joint ventures, opportunity funds, and other targeted investment options.
Trammell Crow Company 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 2012 revenue). For more information visit www.TrammellCrow.com.
