What’s Next at Southfield Park 35?
The pad sites are done and construction should start next month on the 1.1M SF Southfield Park 35 in DeSoto. (Construction enthusiasts are clamoring for tickets to watch.) It’s the largest spec development underway in North Texas and one of the first big spec industrial projects started in DFW. Here’s the skinny.
Seefried Industrial Properties SVP Jonathan Stites (left, with development VP Doug Otte) tells us there’s a tremendous amount of activity along I-20 in South Dallas. (Not to mention the traffic.) With all of the industrial absorption in the DFW market (we led the nation in 2013 with 18M SF), Jonathan says now is the time to get the project started. The land--on 157 acres at the northwest corner of Old Hickory Trail and Danieldale Road in Dallas/DeSoto--was acquired in 2012 along the south side of I-20, where several build-to-suit projects have been built. The goal is to be one of the first ones out of the ground. At this point, there’s a lot of development tire-kicking occurring, he says.
Seefried is developing the project, which is owned by USAA Real Estate Co. Jonathan tells us work has focused on mass-grading and off-site infrastructure including road construction, and utility extension, which will wrap up in the next 30 days. Vertical construction will hopefully start within that same time frame. Targeted completion is set for the end of the year, he tells us. The first of the four buildings will be the 1.1M SF project with three other planned buildings ranging from 242k SF to 679k SF, with some expansion capabilities. At completion, the industrial park will include 2.3M SF. The park is being marketed by JLL's Terry Darrow, Kurt Griffin, and Nathan Orbin.
Seefried is also the developer of RiverPark, south of DFW Airport and is in the midst of developing build-to-suit and spec projects there. He’s also looking at other BTS and spec deals in Fort Worth, Irving, and San Antonio. Jonathan tells us it's the abundance of projects in the works that spurred the addition of Doug to the staff. (How can you be sure this isn't just a giant sheet cake?)