This Week's Dallas-Fort Worth Deal Sheet: Trammell Crow Breaks Ground On 2.7M SF Industrial Park
A huge speculative project is aiming to cash in on DFW’s flourishing industrial market.
Trammell Crow Co. started work on the first phase of a 2.7M SF industrial park on 180 acres at the Dallas Fort Worth International Airport.
Construction of Passport Park West will begin with three buildings totaling more than 1.7M SF. The speculative project will eventually total seven buildings on the southern portion of the airport property in Irving and Euless.
The first phase is expected to be delivered by the first quarter of 2026.
“Passport Park West … will offer unmatched access to labor and logistics while its elevated architectural design and sustainable efforts will place it among the very best new developments in the DFW region,” Trammell Crow Co. Managing Director Jake Marks said in a statement.
The first three buildings to be built will be:
- A 456K SF cross-dock facility with a 40-foot clear height.
- A 1M SF cross-load facility with a 40-foot clear height.
- A 219K SF rear-load facility with a 36-foot clear height.
The second phase will feature an additional 946K SF of Class-A warehouse space across four buildings.
Alliance Architects serves as the project’s architect, with Peinado Construction as the general contractor, Halff Associates as the civil engineer and Belle Firma as the landscape architect. Rone is the project’s geotechnical engineer, and AG&E is its structural engineer. CBRE’s Steve Trese, Steve Koldyke and Renee Castillo are marketing and leasing the project.
PEOPLE
Remington Hospitality named Ben Perelmuter its new CEO, effective June 2. Perelmuter has nearly 30 years of experience and joins the company from TPG Hotels & Resorts, where he was president and chief operating officer. Perelmuter succeeds Sloan Dean, who has served as CEO for the past eight years.
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JLL added Trey Neville as executive vice president on the firm’s Dallas-Fort Worth Retail team. He has more than 30 years of experience in the North Texas commercial real estate market.
SALES
DFW Land LLC purchased the 242K SF Corporate Point office tower at 5615 Highpoint Drive in Las Colinas. The Coppell-based investor group acquired the tower from Gainwell Technologies, the Dallas Business Journal reported. DFW Land was represented by Weitzman’s Creighton Stark as well as broker Matthew Rosenfeld. Gainwell was represented by Davidson Bogel Real Estate’s David Davidson.
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Huffines Communities sold the 282-unit Heritage Towers luxury apartment community at 1600 N. Summit Ave. in Lewisville. The property, which was completed in mid-2023, was sold to an undisclosed buyer.
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The Multifamily Group closed on three multifamily properties in North Texas within a two-week period. The Dallas-based firm’s Metroplex-area acquisitions are:
- The 84-unit Bella Vida property built in 1984 in Arlington.
- The 43-unit Victoria Place property built in 1968 in Fort Worth.
- The 20-unit Fontaine property built in 1961 in Fort Worth.
LEASES
New Haven Cos. leased nearly 25K SF in the Parc North industrial park in North Fort Worth. The Connecticut-based company scooped up the spot in Parc North Building 3 at 2751 Northern Cross Blvd. Bradford Commercial Real Estate Services’ Luke Clardy represented the tenant. Stream Realty Partners’ Brett Carlton and Forrest Cook lease Parc North for EastGroup Properties.
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McDermott Will & Emery relocated its Dallas office to the top floor of Harwood No. 14 at 2801 N. Harwood St. The law firm leased more than 25K SF in the high-rise office building to accommodate 65 lawyers and professional staff.
CONSTRUCTION AND DEVELOPMENT
Cook Children’s Medical Center broke ground on a 760K SF patient care tower on its campus at 801 Seventh Ave. in Fort Worth. The West Tower will include two dedicated cardiovascular operating rooms and will allow for the expansion and redesign of the hospital’s pediatric intensive care unit. That expansion will increase the pediatric ICU’s bed count from 106 to 143. Work on the West Tower is expected to take five years to complete.
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Hoque Global started work May 12 on its $1B University Hills mixed-use development in Southern Dallas next to the University of North Texas at Dallas campus. Homebuilders D.R. Horton and Lennar will buy 580 lots from Hoque Global for single-family homes and townhomes at University Hills.
Hoque Global will partner with KDC for build-to-suit office developments as well as with PegasusAblon to focus on bringing retail, such as a major grocery store, to University Hills. The development will also feature a hotel and a stadium that could bring a professional sports team to the property.
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“Eatertainment” chain Chicken N Pickle held a ribbon-cutting for its nearly 100K SF location at The Farm in Allen. The restaurant and pickleball venue features a 42K SF building with a sports bar as well as 55K SF of outdoor space with a variety of yard games. The venue at the southeast corner of Sam Rayburn Tollway and Alma Drive broke ground in February 2024.
THIS AND THAT
Scott Felder Homes acquired DFW-based homebuilder Olivia Clarke Homes to accelerate the buyer’s growth in North Texas. Scott Felder Homes was sponsored by investment firm Platform Ventures in the deal. Jennifer Johnson will remain with the company she founded in 2020, and Olivia Clarke Homes will retain its name. Builder Advisory Group served as an adviser to Olivia Clarke Homes.
