05 Aug Funding will kick off South Fort Worth warehouse project
Invesco Real Estate is teaming up with Dallas developer Bandera Ventures to build a speculative industrial development in South Fort Worth.
The 956,020-square-foot warehouse project is being built on more than 47 acres at the northwest corner of Oak Grove Road and Everman Parkway south of Interstate 20.
JLL Capital Markets arranged the partnership with Invesco and construction financing for the more than $30 million project with Veritex Bank.
The South Fort Worth Logistics Center will be completed next year, according to JLL.
Bandera Ventures’ project is the latest in a series of new industrial deals popping up near Interstate 20 in South Fort Worth.
Started in 2003, Bandera Ventures has built several successful industrial projects in North Texas.
The real estate firm’s new five-building Gateway Logistics Center at the south end of DFW International Airport contains 1.4 million square feet of warehouse and distribution space.
International auction firm Heritage Auctions just leased a 160,000-square-foot building in the Bandera project for its new headquarters.
And logistics firm Legendzway Distribution is expanding into a 267,000-square-foot industrial building in the project.
Bandera also has industrial projects in Dallas, near San Antonio and the Houston area.
Dallas-Fort Worth is one of the country’s fastest-growing industrial markets, with more than 23 million square feet of space under construction.