Bandera Ventures’ DFW Industrial Project Moves Forward
- Feb 12, 2018
Bandera Ventures’ development of Gateway Logistics Center, which will sprout up onsite at Dallas/Fort Worth International Airport in Dallas-Fort Worth, gets a big boost with the assistance of HFF. Pulling double duty, the commercial real estate and capital markets services provider recently arranged a joint venture equity partnership with Long Wharf Capital on Bandera’s behalf, and orchestrated a loan for the partners’ construction of the state-of-the-art, 1.4 million-square-foot industrial project.
Lenders love a high-performance market and, as noted in a report by commercial real estate services firm Transwestern, “The Dallas-Fort Worth industrial market is poised for another strong year in 2018.”
HFF reeled in Bank of the Ozarks to provide the construction loan for the O’Brien Architects-designed Gateway, the development of which is already underway. Sited within DFW Airport’s 600-acre Passport Park mixed-use development, the Class A+ industrial complex will offer three cross-dock facilities ranging in size from 250,000 square feet to as large as 380,000 square feet, as well as two rear-load buildings consisting of 200,000 to 250,000 square feet.
Bandera has tapped HPI Real Estate Services & Investments to handle leasing at Gateway. FA Peinado is the general contractor for the project and is on schedule to wrap up construction in fall 2018.
Right place, right time
There appears to be no end in sight to the heat of the Dallas-area industrial market. “Leasing activity and absorption totals continue to post high marks, and developers continue to deliver new quality assets to the market,” per the Transwestern report.
Bandera is just one of many companies angling to bring new product—large and small—to the market. The bevy of recent projects includes the 630,000-square-foot Phase One of LogistiCenter at Dallas, which Dermody Properties delivered in September 2017. And in January 2018, Cabot Properties and Steam Realty Partners joined forces to commence construction of a 160,000-square-foot phase of Frisco Park 25, a master-planned business park in Frisco. And there’s much more to come.
Image courtesy of O’Brien Architects