CapRock Partners Breaks Ground On First Ground-Up Texas Project: The DFW Deal Sheet
A major industrial investor and developer began construction of a large warehouse complex east of Dallas.
CapRock Partners broke ground on the 483K SF Clay Road Business Park at 101 Clay Road in Sunnyvale. The three-building warehouse development marks CapRock’s first ground-up construction project in Texas.
The project is scheduled to be completed in the first quarter of 2027.
“Sunnyvale benefits from many of the same structural drivers that position DFW as one of the nation’s strongest industrial hubs, including exceptional transportation connectivity, access to a diverse labor pool and sustained demand for modern logistics space,” CapRock Partners Vice President of Acquisitions Taylor Starnes said in a statement.
“Clay Road Business Park is well-timed to meet that demand with new Class A product, and we look forward to delivering a best-in-class asset for top-tier logistics and manufacturing users.”
Clay Road Business Park’s three shallow-bay industrial buildings will range from nearly 125K SF to 203K SF. The buildings will feature 32-to-36-foot clear heights.
SALES
Partners Real Estate arranged the purchase of the nearly 115K SF office building at 6500 Greenville Ave. in Dallas for an undisclosed buyer. To capitalize on the seven-story property, the buyer plans to execute an extensive renovation program designed to elevate it to Class-A standards. Partners’ Justin Utay and Jeremy Brubaker represented the buyer.
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GEO Plastics bought the 69K SF TriStar Business Park at 7815 Jetstar Drive in Irving to expand its North Texas operations. Colliers’ Chris Teesdale and Pride Snow represented the buyer, while the firm’s Greg Cannon represented the seller, Hopewell Development.
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Lovett Industrial acquired an 8.5-acre industrial land assemblage at 421, 451, 475 and 493 Bennett Lane in Lewisville from four separate ownership groups. Lovett Industrial plans to develop a Class-A industrial project at the site. The transaction was facilitated by Davidson Bogel Real Estate’s Philip Cherrick and Lovett Industrial’s Bennett See.
LEASES
Cooper Street Annex Ltd., a limited partnership managed by Weitzman, acquired the nearly 88K SF Cooper Street Annex retail center at 1520 W. Interstate 20. The acquisition was led by Weitzman’s Stephen R. Schmidt, Nick Cate and Eric Yoo. Hudson Lambert with Summit RE represented the seller. Weitzman will manage the fully leased center under the direction of the firm’s Allyson Flynn.
CONSTRUCTION AND DEVELOPMENT
LGE Design Build completed construction of A20 Logistics Center, a 161K SF warehouse on 10 acres at 500 E. Bardin Road in Arlington. Developed by Provident Industrial, a division of Dallas-based Provident, the facility was designed for long-term flexibility and can accommodate up to four tenants. LGE Design Build served as both architect and general contractor for the project.
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JPI broke ground on the 277-unit Jefferson Grandscape II multifamily community at 5500 Nebraska Furniture Mart Drive in The Colony. Financed in partnership with Nebraska Furniture Mart, with lending support from QuadReal, the $77.8M project is expected to open in January 2028.
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The American Journey Experience, a museum and educational center founded in 2020 by Glenn Beck, will break ground on a 172K SF building in Irving this week. Construction is expected to begin this spring, with the museum projected to open as early as the end of the year.
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Build-to-rent community LyvWell at Harmony opened its first 16 residences in Arlington. New units in the 213-home community from Lyvwell Communities are expected to follow in the coming months as construction is slated to wrap up by early next year.
FINANCING
JLL Capital Markets secured acquisition financing for the 389-unit Ardan West Village apartment community at 2975 Blackburn St. in Dallas' West Village district. JLL worked on behalf of the borrower, Knightvest Capital, to arrange floating-rate acquisition financing through Blackstone Real Estate Debt Strategies. The 23-story property was built in 2018 and features 365K SF of rentable space. JLL Capital Markets’ Mark Brandenburg represented the borrower.
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MDH Partners closed on a $195.9M loan with Capital One. The loan supports MDH’s acquisition of a seven-building portfolio of warehouses in Dallas-Fort Worth, the Inland Empire West, Nashville and Salt Lake City. The 1.6M SF portfolio was 91% leased at the time of the acquisition. MDH’s Matthew Ludwig secured the financing, while Capital One’s Mary Lucy Lester originated the loan.
PEOPLE
Transwestern promoted Brooks Creech to managing director. Creech will oversee healthcare brokerage operations while continuing to lead strategic advisory and transaction services for key healthcare clients. He has nearly a decade of experience in healthcare real estate.
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DartPoints, a regional provider of cloud and interconnection services for the data center industry, appointed Chris Baldwin as senior vice president of construction and Vince Coats as director of financial planning and analysis.
Baldwin brings nearly 30 years of experience and will lead construction strategy and execution across the company’s portfolio. Coats also has more than 15 years of experience in financial planning and analysis and will be responsible for budgeting, forecasting, capital planning and improving visibility across the business.
