Eider Creek Capital has teamed up with a real estate fund advised by Crow Holdings Capital for the construction of Mountain Creek East Logistics Center, a Class A speculative industrial facility in Dallas.
The developers are building the project on four land parcels totaling 25 acres. Davidson Bogel Real Estate’s Ricardo Quinones represented the partners, which acquired the sites at Dan Morton Drive and Crystal Lake Boulevard from an undisclosed seller in an off-market transaction.
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Construction on the 467,541-square-foot industrial facility is already underway. The project is scheduled for completion by August 2022. A CBRE Dallas-Fort Worth team led by Kacy Jones, Steve Koldyke and Brian Gilchrist is in charge of leasing the property.
Upon completion, Mountain Creek East Logistics Center can serve distribution companies in the Dallas-Fort Worth market and beyond. The project is located at Dan Morton Drive and Crystal Lake Boulevard in Dallas’ Mountain Creek neighborhood, giving it nearby access to the Texas Spur 408 highway that connects to Interstates 20 and 30 and other major distribution routes in the metro. According to Eider Creek, the area also has one of the best warehouse labor pools in the region.
Deep Demand in Dallas-Fort Worth
The Metroplex industrial market has seen historically high occupancy levels and increasing rent growth, according to Westmount’s founder & chairman Cliff Booth. Quinones added in prepared remarks that the unprecedented industrial demand in Dallas-Fort Worth has forced developers to find creative solutions, like combining several land parcels for the construction of a new project.
Eider Creek noted that this investment was part of the firm’s ongoing commitment to develop Class A industrial facilities in the metro. Crow Holdings has also been building industrial developments in target markets across the U.S., including Dallas-Fort Worth and Houston. The company is also looking to construct a 2 million-square-foot speculative industrial development in Glendale, Ariz.