Samsung’s Big Texas Moves and Tasty Industrial Deals This Week
Core5’s Timothy Gunter, Cordova Real Estate CEO Fred Cordova and McComb Properties Founder Red McCombs (LinkedIn, McComb Properties)
No shortage of boffo Texas deals to report this #WarehouseWednesday.
➤Samsung has plans to build out a logistics center in more than 650,000 square feet at the Fort Worth Logistics Hub Building 1, the Dallas Morning News reported. That’s in the southern Fort Worth business park that VanTrust Real Estate is developing.
The Real Deal previously reported that Samsung, the South Korea-based electronics giant, has started construction on an overall $17 billion semiconductor manufacturing campus in Taylor, northeast of Austin in Williamson County.
➤Austin-based Cordova Real Estate is planning to bring a two-building, 122,300-square-foot warehouse/office complex to the Austin suburb of Leander.
The estimated cost is $10.4 million, and construction on the shell warehouses is expected to be completed by early 2024.
Also in that market, Dallas-based Provident Realty Partners is planning the Wildhorse Business Park, a 657,300-square-foot shell warehouse/office complex expected to cost $36.7 million, just outside of Austin, in Manor.
Austin is one of the hottest markets in Texas for industrial construction, only surpassed by the Dallas-Fort Worth area, which was also recently reported as having 9 percent of all industrial projects in the pipeline.
➤Stream Realty and McCombs Properties are moving forward with a third phase of its 100-acre Gateway 10 Business Park development in San Antonio.
The project includes a 202,000-square-foot shell warehouse at 6719 Interstate 10, and is part of a four-building, 8000,000-square-foot complex. It is estimated to cost $4.6 million and will break ground early next year, with completion in early 2024.
Earlier phases of the project included a speculative 179,700-square-foot warehouse in 2017 and a 175,000-square-foot warehouse in 2021.
➤ ICYMI: A near million-square-foot distribution hub in Southern Dallas has changed hands.
The recently completed warehouse at 4450 Logistics Drive is situated south of Interstate 20 and was completed by Atlanta-based Core5 Industrial Partners for $52 million and purchased by Miami-based Scout Cold Logistics for an undisclosed price.
➤ ICYMI: Wasatch Storage Partners, which has over 20 facilities across the nation and four in Texas, is planning a 108,700-square-foot three-story cold storage unit in Fort Worth.
