A 550K SF Speculative Industrial Project Is Heading To Lancaster
With demand for e-commerce storage and logistics space growing rapidly across North Texas, industrial developer Robinson Weeks Partners plans to break ground on a 550K SF speculative industrial project in Lancaster next month.
Known as Dallas Midpoint Crossing, the project is slated on 27 acres in Lancaster with close access to major thoroughfares like Interstate 20, I-45 and the Union Pacific Intermodal Terminal.
Dallas Midpoint Crossing is designed as a spec build to satiate growing demand for logistics space in DFW.
The metro had 387M SF of industrial inventory last year, according to CBRE industrial data. Vacancy has been shrinking thanks to a 30.2% year-over-year increase in transactions driven by space occupiers hungry for additional square footage in 2020, according to CBRE. The area's direct vacancy rate dropped 6.7% last year after tenants gobbled up 21.2M SF.
“The accelerated growth we’re seeing in the market is a testament to its ability to support an elevated level of activity, and we look forward to watching the region continue to ascend as a key industrial epicenter with the addition of Dallas Midpoint Crossing," Robinson Weeks Partners CEO David Welch said in a press release about the Lancaster project.
Robinson Weeks has purchased or developed 5M SF of DFW-area industrial space in the last decade, including the 667K SF Logistics Crossing I, which is now leased to General Motors, and the 775K SF Logistics Crossing II.
The developer sees South Dallas as a hub of industrial activity with third-party logistics providers and e-commerce firms needing a constant supply of new space to accommodate growing e-commerce demand.