CHICAGO (March 15, 2022) – CA Industrial today announced the groundbreaking of its 2700 Avenue K logistics and last-mile delivery facility in Grand Prairie, Texas. The development is the product of a joint venture partnership between CA Industrial and DWS Group (“DWS”), and is anticipated to deliver in the second half of 2022.
“It’s great to further expand our partnership with a leading global asset management company like DWS through the groundbreaking of Class A facilities like 2700 Avenue K,” said Michael Podboy, president of CA Industrial. “Unparalleled demand and fundamentals in the industrial market persist following the onset of the COVID-19 pandemic, and is expected continue over the next several years. The delivery of institutional-quality developments, like 2700 Avenue K, allow us to capitalize on this acceleration in e-commerce adoption and higher inventory levels while also uniquely catering to distribution and warehouse users with best-in-class build outs.”
Located eight miles from the DFW International Airport, the logistics center is situated within the Upper Great Southwest submarket – one of the strongest submarkets in the area in terms of occupancy and rent growth. The site’s proximity to major transportation routes I-30 and highways 183, 360 and 161 enables visitors to reach any destination in the metro within a 60-minute drive time. The modern, more than 200,000 square foot multi-tenant class A+ facility will feature 36-foot clear heights, 185-foot truck court, 124 parking spaces, 39 trailer stalls and 31 dock doors. All leasing efforts will be managed by Luke Davis of Stream Realty Partners.
“Dallas/Fort Worth continues to break its own records as it relates to industrial absorption, further strengthening its position as one of the leading industrial markets in the US,” said Joe Trinkle, senior vice president and market officer for CA industrial across the Southwest and West regions. “We are thrilled to have broken ground on this premium development and look forward to working closely with DWS to bring this product to market.”
Over the last year, CA’s industrial and logistics platform has closed transactions totaling approximately $1 billion of project costs and has more than 9.7 million square feet of industrial space across currently under development in key US markets including in Phoenix, Dallas, Orlando, Atlanta, Savannah, Columbus, Richmond, Union City, Watsonville, Indianapolis and Las Vegas.
About CA Industrial
CA Industrial is the dedicated industrial and logistics arm of CA Ventures, the global real estate investment manager, developer and operator. The vertically integrated industrial platform is focused on speculative, ground-up development of modern logistics facilities in strategic U.S. markets. The firm’s barbelled investment strategies capitalize on the unmet demand for mid-box multi-tenant industrial product, as well as smaller product within the urban core. For more information, visit www.ca-ventures.com/real-estate/industrial.
About CA Ventures
CA Ventures is a global vertically integrated real estate investment management company with more than $13 billion in assets across the United States, Europe and Latin America. The Chicago-based firm offers comprehensive in-house investment, development and operational services, and specializes in a range of niche, commercial real estate asset classes including student living, senior living, multifamily, industrial, medical office and life sciences. CA Ventures manages real estate investments on behalf of some of the world’s largest institutional investors across a range of core, value-add and opportunistic investment vehicles. The firm also offers third-party management services for student and residential assets. For more information, visit www.ca-ventures.com.
About DWS Group
DWS Group (DWS) is one of the world’s leading asset managers with €928bn of assets under management (as of 31 December 2021). Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our investment approach strategically.
DWS wants to innovate and shape the future of investing: with approximately 3,500 employees in offices all over the world, we are local while being one global team. We are investors – entrusted to build the best foundation for our clients’ future.