Jackson-Shaw Breaks Ground On Huge Industrial Park In Denton: The DFW Deal Sheet

A national real estate developer based in North Texas began work on a nearly 1M SF industrial campus in a city called the “best-kept secret in Dallas-Fort Worth.” 

Jackson-Shaw broke ground on Horizon 35, a more than 900K SF business park at the northeast corner of Interstate 35 and Texas Highway Loop 288 in Denton. The project’s first phase will deliver more than 543K SF across three rear-load buildings in the third quarter of 2027.

A future second phase will add up to 400K SF for build-to-suit. 

“We set out to find the right site and build the kind of space we’d want to occupy ourselves: well located, easy to get to, highly functional, and a step above typical distribution product,” Jackson-Shaw Vice President of Development Miles Terry said in a statement. “With flexible suite sizes, Horizon 35 is designed to serve a broad range of users as Denton continues to grow.”

The three buildings included in the first phase of development will be 147K SF, 146K SF and 250K SF with 32- to 36-foot clear heights, 60-foot speed bays, dock-high loading, oversized drive-in doors and ample automobile and trailer parking.

Stream Realty Partners’ Forrest Cook, Mac Hall and Connor Land are leading leasing for the development, with ARCO/Murray serving as the design-builder. 

SALES

Stonepeak acquired an 860K SF rail-served logistics asset in the AllianceTexas area of Fort Worth. The asset is anchored by two Class-I rail lines: the BNSF Alliance intermodal terminal and the Fort Worth Alliance cargo airport. Simpson Thacher & Bartlett LLP served as legal counsel, and Newmark served as financial adviser to Stonepeak. 

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Ascent Investment Partners purchased Argyle 44, a more than 44-acre residential development site along FM 1830 in Argyle. The site is also located within Denton’s extraterritorial jurisdiction.

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JLL Capital Markets represented a joint venture managed by Weitzman in adding an undisclosed institutional investor as an equity partner in the 138K SF Legacy Drive Village retail center at 7000 Independence Parkway in Plano.

Built in 1994, Legacy Drive Village is 100% occupied and anchored by grocer Kroger. The JLL Capital Markets team representing the seller was led by Chris Gerard, Kristi Leonard, Ben Pollack and Alex Fronterhouse.

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Marcus & Millichap procured an undisclosed local real estate developer to purchase the more than 51K SF Baybury Square Shopping Center portfolio in Richardson. Built in 1966, the portfolio includes two multitenant shopping centers and two freestanding buildings on 10.9 acres at 900 E. Belt Line Road. At the time of sale, the property was approximately 64% occupied. 

The buyer plans to reposition the portfolio by leasing vacant space, enhancing the tenant mix and evaluating future redevelopment opportunities. Marcus & Millichap’s Philip Levy and Scott Abeel marketed the property on behalf of the seller, an out-of-state private investor.

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Younger Partners’ Ben McCutchin brokered the sale of 618 acres near the corner of Friendship Road and FM 1385 in Pilot Point to Hillwood for the Lantern master-planned community. Lantern by Hillwood will feature around 2,000 homesites, neighborhood-serving retail, multifamily opportunities and a potential site for a future Pilot Point ISD elementary school.

Ben McCutchin represented the seller, Gene McCutchin Ltd III, the estate of his brother Gene McCutchin, in the transaction. The sale price was not disclosed. Dallas attorney Steve Griggs advised McCutchin on the transaction.

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Box Investment Group sold the 104K SF M380 Business Park in Denton to Lanihau Properties. Cushman & Wakefield’s Jim Carpenter, Jud Clements, Robby Rieke, Emily Brandt and Trevor Berry represented Box Investment Group in the transaction. HNL Capital Advisors’ Will Crowley acted as the buyer’s adviser for the transaction.

LEASES

Evernorth, the health services division of The Cigna Group, entered into a long‑term lease to open a new 120K SF Accredo Specialty Pharmacy facility in Lewisville. Accredo operates a specialty care facility in Irving, but when the Lewisville facility opens in late 2027, those workers will move to the new location.

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CBRE arranged a nearly 51K SF office lease for Carrington, Coleman, Sloman & Blumenthal LLP at the Dallas Arts Tower building at 2200 Ross Ave. in Downtown Dallas. The law firm relocated from Bank of America Plaza and will occupy floors 18 and 19. CBRE’s Phil Puckett and Harlan Davis represented Carrington Coleman in lease negotiations. 

The landlord, Fortis Property Group LLC, was represented by JJ Leonard of Partners Real Estate and Matt Wieser of Stream Realty. Cory Shivar and Rachel Brennan of Turner & Townsend partnered with Carrington Coleman throughout the project to help guide its workplace strategy, design and relocation process. 

CONSTRUCTION AND DEVELOPMENT

VanTrust Real Estate LLC began construction on the first phase of its 121 Commerce Park in McKinney. The initial phase of the industrial park will include more than 512K SF of Class-A space across two speculative buildings on 42 acres at the northwest corner of Tina Drive and State Highway 121. Building A will be more than 242K SF, and Building B will total more than 270K SF. Completion is anticipated in the second quarter of 2027.

The second phase of the project calls for an additional 250K SF of build-to-suit industrial space at the northeast corner of Tina Drive and State Highway 121. JLL’s Kurt Griffin and Nathan Orbin are marketing the project. VanTrust selected Evans General Contractors, GSR Andrade Architects and Kimley-Horn to support the development of 121 Commerce Park.

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LMF Construction and Realty Investments broke ground on the 176-unit Rockwall Harbor Residences multifamily community in Rockwall’s Harbor District on Lake Ray Hubbard. Designed by Design Balance, the four-story project will span 159K SF across 3 acres.

FINANCING

PACE Equity Finance and Lone Star PACE announced the closing of $1.7M in commercial property assessed clean energy financing for the renovation of the 40K SF Center Place I medical office property at 3101 Churchill Drive in Flower Mound. 

C-PACE funds will support a comprehensive package of energy-efficiency, water conservation and renewable energy improvements. The upgrades are projected to reduce annual energy and water consumption by 6% and 3%, respectively, while generating around 176,070 kilowatt-hours of renewable energy each year. 

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JLL Capital Markets secured a refinancing for the newly constructed, 300-unit Standard at Royal Lane multifamily community at 2727 Royal Lane in Dallas on behalf of the borrower, LDG Development LLC. The lender was TPG Real Estate Credit. JLL Capital Markets’ debt advisory team representing the borrower was led by Kyle Spencer, Dan Kearns, Christian Johnston and Aidan Flanagan.

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JLL Capital Markets arranged a $248.9M refinancing for a 5,027-unit senior housing portfolio spanning 45 properties in DFW, Houston and 13 other states. JLL worked on behalf of the borrower, Brookdale Senior Living, to secure the five-year, fixed-rate loan through Fannie Mae. JLL Capital Markets’ senior housing team representing the borrower included Allison Holland, Alex Sheaffer and William Roberts.

PEOPLE

Reid Goetz joined Crescent Real Estate LLC as managing director, industrial. Goetz will lead Crescent’s dedicated industrial investment and development platform, based out of the company’s Fort Worth office. Goetz brings more than 20 years of industrial real estate experience and joins the firm from Hillwood Properties.

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Mohr Partners Inc. named Kam Schroeder president of brokerage, a newly created role designed to support the expansion of the firm’s national brokerage platform. A 20-year veteran of corporate real estate, Schroeder will oversee brokerage strategy and growth across Mohr Partners’ 24 U.S. offices and its relationships with global partner firms.

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KAI Enterprises promoted Aleksandar Milenkov to president of KAI Engineering. Milenkov joined KAI in 2020 as director of mechanical engineering and was previously promoted in 2021 and 2023. Milenkov will provide executive leadership for KAI’s engineering practice. 

THIS AND THAT

The Bonham City Council approved the establishment of the Texas Property Assessed Clean Energy Program for the city during its Aug. 10 meeting. Texas PACE Authority will serve as the Bonham PACE program administrator.