Holt Lunsford Lands Financing for Dallas Project
Holt Lunsford Commercial Investments has obtained $32.7 million for the development of the second phase of Denton Point, public records show. First United Bank provided the five-year loan in a deal brokered by JLL.
Phase Two of the Denton, Texas, industrial campus will comprise 451,856 square feet across Buildings III, IV and V. Holt Lunsford completed the first two facilities, measuring 242,378 square feet, in the second quarter of 2021 and sold them to Westcore in 2023.
Upon delivery, Denton Point III, IV, and V will feature rear-load configurations, 28- to 32-foot clear heights, 114 total dock-high loading doors, 160- to 280-feet bay depths and ample parking. The project will also include the construction of a new public road infrastructure surrounding the development.
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Building III and IV will have a shared truck court, while Building V will be a freestanding facility that will provide 83 trailer positions or outdoor storage space.
The development, which will carry the addresses 670-710 Masch Branch Road and 4610 Jim Christal Road, will be close to the Denton Enterprise Airport and provide easy access to Interstate 35. Downtown Dallas is some 40 miles away, while Dallas Fort Worth International Airport is less than 30 miles from the location.
The JLL Debt Advisory team consisted of Senior Managing Director Campbell Roche, Senior Directors Will Mogk and Tom Weber, Associate Luke Rogers and Analyst Jordan Buck.
Dallas’ industrial pipeline still ranks high
Dallas-Fort Worth had more than 15.7 million square feet of industrial space under construction at the end of June, ranking second nationally, a CommercialEdge industrial report shows. Phoenix was still in the lead, with 39 million square feet underway. Additionally, the Metroplex’s vacancy rate during the same month clocked in at 6.5 percent, 40 basis points higher than the U.S. average.
In May, Crow Holdings Development started construction on a 511,000-square-foot, two-building campus in Dallas. The 33-acre development is scheduled to come online in the first quarter of next year.
Other notable activities in the metro include Subaru of America’s plan to expand its Dallas Business Center in Coppel, Texas, by 200,000 square feet. Prologis, the owner of the current facility, will construct the build-to-suit expansion.
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