 |
| Rendering of planned 1.4 million SF Intermodal Commerce Park in Haslet, TX |
DALLAS,
TX – JLL announced it has arranged
equity and construction financing and will lead leasing efforts for Intermodal
Commerce Park, a to-be-built, Class A+ industrial project comprising three
buildings totaling 1.4 million square feet in the Dallas-Fort Worth area
community of Haslet, Texas.
 |
| Dustin Volz |
JLL worked on behalf of Gruene Real Estate Partners and Weber & Co. to arrange the joint venture equity partnership with a private real estate fund advised by Crow Holdings Capital and placed the five-year construction loan with First United Bank on behalf of the developer.
Additionally,
JLL was selected to lead the marketing and leasing effort for the
master-planned development. Construction is set to be completed in July 2021.
Intermodal
Commerce Park will be constructed on a land site located at the southern end of
Intermodal Drive, which connects the 82-acre site to the nearby BNFS intermodal
facility in Alliance, the nation’s largest inland port.
 |
| John Rose |
The location allows easy access to the Texas Triangle, the area between DFW, Houston and San Antonio, allowing tenants to reach more than 25 million people in a matter of hours.
Intermodal Commerce Park will consist of one front-load and two cross-dock buildings that feature between 32- and 40-foot clear heights, deep truck courts, 186 dock doors, 10 ramp doors, 313 trailer stalls and ample car parking.
“With
its formation, the Weber-Gruene Joint Venture will operate as one cohesive
unit,” said Ken Kristofek, Owner and President, Gruene Interests, LLC.
“We will function seamlessly, bringing together a diverse set of capabilities to the development process and enhance an already rich history of service and quality in Dallas-Fort Worth.”
The
JLL Capital Markets team representing the developer was led by Dustin Volz,
John Rose, Stephen Bailey and Wells Waller.
“We will function seamlessly, bringing together a diverse set of capabilities to the development process and enhance an already rich history of service and quality in Dallas-Fort Worth.”
 |
| Stephen Bailey |
The
JLL Leasing team includes Managing Director George Curry, Executive Vice
President Jamie Galati and Vice President Blake Rogers.
The
need for warehouse space across the country has increased due to the COVID-19
pandemic and resulting shelter-in-place orders, accelerating e-commerce
growth.
JLL expects e-commerce
sales could hit $1.5 trillion by 2025, which would increase the demand for
industrial real estate an additional one billion square feet.
For
more news, videos and research resources on JLL, please visit our newsroom.
 |
| Wells Waller |
The Weber-Gruene Joint Venture (“JV”) was formed
to develop institutional grade industrial warehouse projects in the DFW
Metroplex and the state of Texas.
The JV consists of Weber & Company and Gruene Real Estate Partners.
Since 1990, John Weber, Sr. and Weber & Company has successfully developed over 40 shopping centers in DFW totaling over 14 million square feet.
Ken Kristofek founded Gruene Real Estate Partners after leaving the corporate world with over 30 years of corporate real estate development experience.
During his career, Ken has personally developed and been responsible for over 3.5 million square feet and thousands of acres of development in multiple product types.
His development experience includes industrial warehouse, industrial warehouse parks, tilt-wall office, mid-rise office, retail, multifamily and large mixed-use land projects.
The JV consists of Weber & Company and Gruene Real Estate Partners.
Since 1990, John Weber, Sr. and Weber & Company has successfully developed over 40 shopping centers in DFW totaling over 14 million square feet.
Ken Kristofek founded Gruene Real Estate Partners after leaving the corporate world with over 30 years of corporate real estate development experience.
 |
| George Curry |
During his career, Ken has personally developed and been responsible for over 3.5 million square feet and thousands of acres of development in multiple product types.
His development experience includes industrial warehouse, industrial warehouse parks, tilt-wall office, mid-rise office, retail, multifamily and large mixed-use land projects.
About Crow Holdings Capital
Crow Holding Capital is the real estate investment management
company of Crow Holdings.
 |
| Jamie Galati |
Crow Holdings is a privately owned real estate investment and
development firm with a 70-year history and a strong track record of
performance, partnership and innovation.
About First United Bank
Established in 1900, First United has more than 85 bank,
mortgage and insurance locations throughout Oklahoma and Texas.
It is one of
the largest, well-capitalized banking organizations in the Southwest with
assets of more than $8 billion, and it is among the largest privately held
community banking organizations in the U.S.
First United provides a full range of financial services including banking, mortgage, insurance, and investment products and services, and is dedicated to inspiring and empowering others to Spend Life Wisely®.
 |
| Blake Rogers |
First United provides a full range of financial services including banking, mortgage, insurance, and investment products and services, and is dedicated to inspiring and empowering others to Spend Life Wisely®.
About
the Weber & Company and Gruene Real Estate Partners Joint Venture
The Weber-Gruene Joint Venture (“JV”) was formed
to develop institutional grade industrial warehouse projects in the DFW
Metroplex and the state of Texas.
The JV consists of Weber & Company and
Gruene Real Estate Partners. Since 1990, John Weber, Sr. and Weber &
Company has successfully developed over 40 shopping centers in DFW totaling
over 14 million square feet.
 |
| John Weber, Sr. |
During his career, Ken has personally developed and been responsible for over 3.5 million square feet and thousands of acres of development in multiple product types.
His development experience includes industrial warehouse, industrial warehouse parks, tilt-wall office, mid-rise office, retail, multifamily and large mixed-use land projects.
CONTACT:
Kimberly Steele
Senior Associate, Public Relations
JLL Capital Markets
9 Greenway Plaza, Suite 700
Houston, TX 77046
T +1 713 852 3420
M +1 832 244 9994
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