DALLAS (PRWEB) April 16, 2015
Amstar and national real estate developer Jackson-Shaw announced today that construction has commenced on Parc North, a 31-acre speculative industrial development in North Fort Worth. The development will consist of four light industrial buildings totaling nearly 450,000 square feet and is scheduled for delivery during the third quarter of 2015.
Parc North, strategically located at the southeast corner of I-35 and I-820, will offer Class A industrial space with excellent visibility and convenient access to major highways. Situated at the core of one of the top performing industrial markets in the nation, the property benefits from its close proximity and easy access to DFW International Airport, Alliance Airport, and Downtown Fort Worth.
Parc North is Amstar’s third industrial development to break ground in the Dallas-Fort Worth market in the past 12 months. DFW North Distribution Center and Riverpark 1000 both commenced construction in 2014 and are nearing delivery; the buildings are 100% leased on a long-term basis.
“The Dallas-Fort Worth market has one of the strongest fundamental growth stories in the country and Amstar is excited to capitalize on that growth by breaking ground on another speculative development with an experienced development partner,” said Amstar Senior Vice President Otto Petty. Amstar currently has eight speculative industrial buildings totaling nearly 3.0M square feet under construction throughout the U.S.
“The Northern Crossing area, where Parc North is located, continues to be an industrial magnet,” said Jason Nunley, Vice President of Development at Jackson-Shaw. “This project was specifically designed to cater to a wide variety of users in Fort Worth.” “With the explosive growth North Fort Worth is currently experiencing, there is a real need for new industrial development,” stated Seth Koschak, Managing Director at Stream, who is leasing the project on behalf of Amstar and Jackson-Shaw. “Timing is right and demand is in place for this type of product.”
Established in 1987 and headquartered in Denver, Colorado, Amstar is a real estate private equity company that acquires, develops and manages all major property types in the United States and in select international markets. In the United States, Amstar focuses on investing in high-quality and well-located office, multifamily, industrial, retail and hotel properties with value-add risk profiles through a rotational investment strategy; it targets underperforming property sectors early in their fundamental recoveries, stabilizes those properties through active asset management, and sells when there is an abundance of capital seeking to enter that sector. Currently, Amstar and its clients utilize perpetual separate account structures which grant the flexibility needed to optimize risk-adjusted returns through multiple market cycles. Amstar is a privately-owned company with over 80 professionals, and is based on a culture of trust, integrity, and respect. For more information, visit http://www.amstar.com.
For over 42 years, Jackson-Shaw has been known to the real estate market locally and nationally as an innovative, diverse Dallas-based development company with meaningful relationships throughout the real estate and philanthropic community. The company has developed over 46 million square feet of development since its founding in 1972 and consistently been a leader in “Urban Industrial”, small infill industrial projects that dot the North Texas and national landscape. The projects historically have land development challenges that must be overcome along with the challenges of underwriting empty buildings. Jackson-Shaw has offices in Dallas; Jacksonville, Florida; and Lanham, Maryland. For more information, call 800-351-SHAW (7429) or visit http://www.jacksonshaw.com.