Black Creek Group Kicks Off Fort Worth Project
- Dec 04, 2019
Black Creek Group has broken ground on Carter Logistics Center, a 569,000-square-foot industrial development in Fort Worth, Texas. Scheduled for completion in the third quarter of 2020, the project will be the newest addition to the company’s 6 million-square-foot portfolio, as of September of this year.
Located at 7200 Oak Grove Road, the development will be situated within Carter Business Park and will be roughly 2 miles south of the interchange of interstates 20 and 35-W. The project will comprise customizable interior build-outs, as well as 32-foot clear heights and 180-foot plus truck courts. The three buildings will range from 88,000 to 250,000 square feet and will be divided into 30,000-square-foot sections in order to accommodate multiple tenants.
According to Black Creek Group Senior Managing Director for the south central region Mace McClatchy, south Fort Worth boasts strong industrial fundamentals and a strong demand for Class A properties. Moreover, according to Yardi Matrix data, the asset is surrounded by almost 14.3 million square feet of industrial space within a 3-mile radius.
In July, Prologis Inc. spent a little less than $4 billion to acquire Industrial Property Trust Inc., a Black Creek Group-sponsored investment platform. The merger is set to close in the fourth quarter of 2019, but no later than March 31, 2020.