Trammell Crow 35/Eagle Marks One of the Firm’s Largest Speculative Industrial Project in its 65-Year History
FORT WORTH, TX – February 27, 2014 Construction has officially begun on Trammell Crow 35/Eagle, a 1.6 million square foot speculative industrial project in northeast Fort Worth. The project, which sits on 314 acres is being developed by Trammell Crow Company and joint venture partner Prudential Real Estate Investors. Completion is expected in late 2014 and full build-out of the park will include over 4.2 million square feet of office, retail and industrial product.
“Fort Worth has seen tremendous growth in recent years, and that growth is thanks in part to industrial projects like this one,” said Fort Worth Mayor Betsy Price. “We always expect a quality product when Trammell Crow Company is involved. They continue to be great partners as we work to meet the demand for jobs and supplying office, industrial and retail space for Fort Worth."
Located at the NW Corner of I-35W and Eagle Parkway, plans 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.
“We are excited to welcome Trammell Crow Company’s newest industrial project along I-35W to Denton County’s growing commercial real estate market,” said Andy Eads, Denton County Commissioner, Precinct 4.
The project is adjacent to 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.
“This is a growing area, and Trammell Crow 35/Eagle will bring in needed commercial development for those living and working in the southwest corner of Denton County,” added Denton County Judge Mary Horn.
“We are excited to officially kickoff this project with Prudential Real Estate Investors and deliver a high-end industrial product in the area’s top submarket,” said Scott Krikorian, Senior Managing Director with Trammell Crow Company’s Dallas/Fort Worth Business Unit. “This development will provide tenants with modern amenities, as well as efficient access to local highways, intermodals and airports.”
Bob Scully and Steve Trese with CBRE have been engaged by the development team to market the property to industrial and commercial users.
“This is one of the best industrial sites I’ve ever been involved with. It is situated in the heart of the Alliance development, with over one-mile of freeway frontage, proximity to Alliance Airport and BNSF’s intermodal facilities,” said Scully, a Senior Vice President with CBRE.
Jordan Foster serves as the general contractor for the project.
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 December 31, 2013, Trammell Crow Company had over $4.9 billion of projects in process and $1.5 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 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, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). For more information visit www.TrammellCrow.com.
