Late last week ownership of the highly desirable Fort Worth area industrial distribution center land approved a price change. This 156.77 acre tract is due north of the big development that Scannell Properties has almost completed. The land is situated in the Northlake, Texas ETJ right on the border with the city of Fort Worth and Texas Motor Speedway. The site is close to FM 156 & Highway 114 in Denton County, Texas. Prime for a new distribution center development, the asking price was changed from $20MM to $12MM asking. This site is one of the last sites of its size on the market in the area. Investors and developers alike will find this site to be attractive for many reasons. Price and location are very important factors. Clear height is also a big factor in center selection in the warehouse market today.
Market Area News
The area in and around Highway 114 and FM 156 has become a hub for distribution center development. Due in part to its great location land in this area is very popular. In addition, the wild success of Alliance Airport has caused a boom in the area around it. Air freight has become very popular in the DFW distribution center game. Proximity to it is just one reason this land is so desirable among distribution center developers. In fact the Fort Worth area is so hot a recent new joint venture development had been announced. Demand continues to be very strong for 3PL / distribution space as marked by all the huge leases that have been signed in this area. Clearly this great location will make a big impact on the demand going forward.
This link takes you to the 156.77 acre land flyer and this link will take you to the land survey. For more information contact the exclusive agent, Grant Laughlin, with Laughlin Commercial Realty Group today.