A Houston-based real estate investor and developer has opened a new business park in Wilmer.
Griffin Partners is building the Port 45 industrial project on Millers Ferry Road at Interstate 45. The development is near Union Pacific’s massive intermodal rail terminal.
The two-building project will include 567,516 square feet of warehouse and distribution space.
Griffin Partners’ Income & Value Fund IV provides capital for development. And Jones Lang LaSalle’s Randy Touchstone, Craig Jones and Kodie Comby praise the project.
Alliance Architecture designed the business park and Harvey Builders is the general contractor.
Griffin Partners was founded in 2001, has developed over 14 million square feet of real estate projects and has assets valued at $2 billion.
Along with the Wilmer project, Griffin Partners is also building an industrial park in Nashville.
South Dallas County is the fastest growing industrial market in North Texas, with approximately 17 million square feet of warehousing and logistics space under construction.
Champion Partners has two new industrial projects along I-45 in Wilmer.
And Illinois-based IAC Properties plans to construct a more than 560,000 square foot distribution building on Wintergreen Road near I-45 in Hutchins.
A million-plus-square-foot warehouse on Telephone Road south of Interstate 20 has just been sold to Utah-based Property Reserve Inc., a real estate investment and development arm of the Church of Jesus Christ of Latter Day Saints. The building is fully leased to Amazon.
Other companies with major warehousing operations along I-45 and I-20 include Whirlpool, Procter & Gamble, Ace Hardware, Quaker Foods, BMW, Mars Petcare, and Hyundai.
Dallas-Fort Worth is the nation’s fastest growing industrial construction market with over 70 million square feet of space on the way.