Construction has begun on a two-building industrial project in McKinney that could include more than 380K SF upon completion.
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The first phase of McKinney 121 will include two Class-A buildings at 4400-4500 South Hardin Blvd. totaling 212.2K SF, according to a news release from commercial real estate firm Lee & Associates, which is also overseeing leasing.
David Hicks, vice president of EastGroup Properties, the developer for the project, said his company chose McKinney in part because of its strategic location in the region as well as its access to a skilled labor pipeline.
“McKinney 121 is an exciting opportunity for EastGroup to continue to grow in the DFW market,” Hicks said in the release. “The shallow bay design, near major transportation corridors, is in line with our growth strategy and will be a unique offering to the submarket.”
Phase 2 of the project would add close to 169K SF to the development, per the release.
The project breaks ground as demand for industrial space continues to outpace supply across DFW. More than 33M SF have been absorbed in the Metroplex over the last 12 months, with the bulk of it coming since the start of 2021. Vacancy also decreased for the fourth consecutive quarter to 6.4% in Q3, per JLL.
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