35 Eagle

Location

Fort Worth, Texas

Product Type

Industrial

Timeline

Phase I Project Start: Q1 2014
Phase I Project Completion: Q2 2015

Phase II Project Start: Q1 2017
Phase II Project Completion: Q2 2018

Phase III Completion: Q1 2024

Overview

TCC, along with joint venture partner PGIM, acquired 314.4 acres located at the northwest corner of I-35W and Eagle Parkway in northeast Fort Worth in December 2013. TCC immediately began construction on two speculative industrial buildings – Building B includes 1,041,879 square feet and Building D includes 548,495 square feet – and delivered both buildings in 2015.

Building on the success of Phase I, TCC and PGIM began construction on Phase II of the 35 Eagle Industrial Park in February of 2017. Phase II consisted of three speculative industrial buildings on 106 acres of the 210 acres remaining. The three Phase II buildings include a 1,089,642-square-foot cross-dock warehouse (Building A), a 312,654-square-foot rear-load warehouse (Building H), and a 233,961-square-foot cross-dock warehouse (Building J).

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 I-35W and Eagle Parkway. The project is located within three miles from the headquarters for the BNSF Railway, the second-largest freight railroad network in North America.

35 Eagle is one of the largest projects of its kind in TCC's history in Dallas/Fort Worth.

Opportunity, Solutions & Outcomes

Phase I of 35 Eagle was delivered on time and on budget. Both Buildings B and D achieved LEED certification, and the project was named 2015’s “Best New Industrial Project” by D Magazine.

Shortly after construction completion, 35 Eagle Buildings B and D were 90% leased to two investment grade tenants, and were sold to Heitman in late 2016.

TCC and Prudential began construction in Q1 2017 on 35 Eagle Phase II, a speculative three-building development totaling approximately 1.6 million square feet, and successfully delivered in Q3 2018. TCC additionally worked closely with the Texas Department of Transportation (“TxDOT”) to create and build a frontage road along I-35W South, which also provides immediate access to I-35W from the site. This involved a significant amount of coordination and planning with TxDOT as well as the City of Fort Worth.

Full build-out of the park will include over 4.2 million square feet of industrial, office and retail product.