SOUTH FORT WORTH

Current Events

The South Fort Worth industrial submarket continues to have strong leasing activity across all product types. Vacancy rates have stayed between 5% and 6% for the past three quarters with approximately 1.8M SF delivering during that time period. A trend that kept up in Q2 2023 with ~664K SF of new deliveries and ~608K SF in absorption. We expect to see this streak snap in Q3 and Q4 of this year with 2.4M SF slated to deliver and approximately only ~1.3M SF of active deals tracking. However, we believe the vacancy rate will ultimately drop in the second half of 2024 given the slowdown in speculative development. Only two projects totaling 381K SF have announced Q3/4 2023 groundbreaks. Specifically, this pipeline consists of the Falcon Development single 237K SF rear-load dubbed “Oak Creek Distribution” and Empire Equities four (4) building 144K SF single tenant grade level concept at Campus Park.

Top Lease Transactions

• PGL has signed a 263,900 SF lease at Carter Park Distribution with TA Realty.

• Molson Coors has signed a 218,282 SF lease at Carter Distribution Center with Cabot Properties.

• Packaging Exchange has signed a 98,280 SF lease at 46 Ranch Logistics with Nuveen.

• Hood Industries has signed a 90K SF lease at 8932 South Freeway with Hickman Properties.

• Frito Lay has signed a 45,870 SF lease at 8100 South Freeway with Cabot Properties.

Deals In The Market

• Mansfield Commerce Park is a 520K SF four (4) building portfolio and is currently under contract with HCP & Exline Capital.

• I-30 Shallow Bay is a 452,721 SF sixteen (16) building portfolio and is currently under contract with Basis Industrial.

• Blue Smoke Portfolio a 183,918 SF eleven (11) building portfolio.

Vital Stats

New Developments

• HomeGoods | BTS – A 1,033,760 SF BTS for HomeGoods with Clarion and Crow Holdings Capital

• Risinger Park South – A 655,500 SF development with TCRG Properties

• Southland Business Park | Phase 3 – A 781,530 SF building part of a master-planned park with Majestic Realty

• Carter Park East | Phase 2 – A 558,569 SF three (3) building project with Clarion

• Greenbay Packaging | BTS – A 750K SF BTS for Greenbay Packaging with Jackson Shaw

• Junction 20-35 – A 139,496 SF development with CIM

• Point South Commerce – A 258,100 SF development with Alliance

• Benbrook Business Park – A 917,374 SF four (4) building project with Jackson Shaw

Large Existing Vacancies

• Fort Worth Logistics Hub | Building 2 – 606,480 SF

• Carter Park East | Building 1 – 549,780 SF

• Southwest Crossing Logistics Center – 213,546 SF

• South Fort Worth Commerce Center | Building 2 – 180,556 SF

• Fort Worth South Business Park | Building 6 – 91,077 SF