CA Industrial, a subsidiary of CA Ventures (“CA”), the global vertically integrated real estate investment management company, announced it has formed a joint venture partnership with DWS, a leading global asset manager, and closed on industrial developments in Dallas and Phoenix.
The Phoenix project encompasses 90-acres of land for the development of four industrial facilities totaling 1.5 million square feet, located at the Northwest corner of Loop 303 and Glendale Avenue in Glendale, Arizona. The site, named Luke Logistics Center, will have state-of-the art features suitable for warehousing, distribution, logistics, manufacturing or data center users. Each asset will feature 36–40-foot clear heights, cross dock loading with 195-foot-deep truck courts, trailer storage, ample car parking, ESFR sprinklers and 60–70-foot speed bays. Luke Logistics Center phase one is scheduled to break ground Q3 2021 and all four assets are slated to be completed Q4 2022. John Lyndon and Anthony Lyndon of JLL represented CA Industrial in the acquisition of the land and will be leasing the property.
The Dallas project is located in the highly desirable infill submarket of Upper Great Southwest (GSW) in the middle of the Dallas-Fort Worth metroplex. The site will be used for the development of a 200,000 square foot, Class A+ logistics, last mile delivery location. The project, named 2700 Avenue K, will feature 36-foot clear heights, 33 dock doors with 190-foot-deep truck courts, trailer parking and abundant parking. The project is expected start construction in late summer 2021 and is scheduled to be completed in the second half of 2022. Luke Davis of Stream Realty Partners represented CA Industrial in the acquisition of the land and will be leasing the property.
This year, CA Industrial anticipates commencing on development projects totaling more than 9 million square feet of industrial space across the U.S. including facilities in Denver, Phoenix, Dallas, Atlanta, Savannah, Columbus, Indianapolis and Las Vegas, among others.
Will Strong of Cushman & Wakefield and Dustin Volz of JLL Capital Markets arranged equity financing for CA Industrial.
