Constellation Mustang Crossing will comprise 4 industrial buildings. Picture courtesy of Constellation Actual Property Companions
Constellation Actual Property Companions and Northwestern Mutual plan to develop Constellation Mustang Crossing, a four-building, 546,330-square-foot industrial campus in Southlake, Texas. Building is predicted to start within the first quarter of 2024, with supply scheduled for the primary quarter of 2025.
The partnership has not too long ago acquired the 33.7-acre improvement website. Dosch Marshall Actual Property represented the developer within the land acquisition, whereas JLL will deal with leasing efforts on the property.
When full, Constellation Mustang Crossing will embrace buildings starting from 102,957 to 188,132 sq. toes and accommodate tenants from 30,000 to 188,000 sq. toes. Designed by Meinhardt & Associates, the property is slated to characteristic 28- to 32-foot clear heights, ESFR sprinkler techniques, LED lighting and a complete of 522 automobile parking spots, in line with CommercialEdge info.
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The economic mission will take form within the DFW Airport submarket at 2100 Mustang Courtroom, the place the developer will quickly demolish the present gasoline terminal. The parcel was one of many final industrial websites obtainable for improvement in Southlake, Constellation Senior Vice President Scott Ellerman talked about in ready remarks.
Near State Highways 114 and 121, Constellation Mustang Crossing shall be 5 miles from Dallas-Fort Value Worldwide Airport, 15 miles from Irving, Texas, 22 miles from Fort Value, Texas, and inside 25 miles of Dallas.
Dosch Marshall Actual Property Analyst Joey Tyner and Principal Tom Dosch negotiated on behalf of the developer throughout the land acquisition. JLL’s Managing Administrators Kurt Griffin and Nathan Orbin, along with Senior Affiliate Dalton Knipe and Affiliate Weston King, shall be advertising and marketing the property for lease.
The most important industrial pipeline within the U.S.
Dallas had the biggest industrial improvement pipeline within the nation as of September, with 49.3 million sq. toes underway, a latest CommercialEdge report reveals. The Metroplex’s pipeline amounted to five.4 p.c of the present stock, outpacing Phoenix (46.6 million sq. toes) and Inland Empire (29.6 million sq. toes).
One of many metro’s ongoing industrial tasks is AllianceTexas, a 27,000-acre master-planned improvement in Fort Value, Texas. In August, developer Hillwood broke floor on two speculative buildings on the website, with completion anticipated by the primary quarter of 2024.
As for deliberate developments, a West Coast-based producer introduced its intention to construct two vegetation totaling 2.8 million sq. toes within the Dallas-Fort Value space earlier this month. The brand new factories will take form at Trammell Crow’s 35 Eagle and at Carter Park East.
