Newmark has secured the joint venture equity placement for the development of TriStar Business Park, a two-building, 173,680-square-foot industrial project located in Irving, Texas. The project is expected to deliver in Q4 2024.
Newmark Capital Markets Vice Chairmen Dustin Volz and Stephen Bailey, Senior Managing Director Dom Espinosa and Managing Director Zach Riebe arranged the joint venture between the investor, MBK Industrial Properties, and the sponsor, Hopewell Development.
Building 1, located at 7815 Jetstar Drive, will comprise 69,160 square feet; Building 2, located at 7810 Jetstar Drive, will total 104,520 square feet, divisible down to 52,000 square feet. The buildings will feature 32-foot clear heights, ESFR sprinkler systems, 100+ parking stalls, eight dock-high doors, grade-level doors with ramps and 130- to 140.5-foot truck courts.
Situated at the corner of HWY 114 and Jetstar Drive, the project is within close proximity of the Dallas/Fort Worth International Airport and the Dallas Central Business District. Neighboring warehouse tenants include Honda, Subaru, Coca-Cola, Samsung, Canon and Boeing, among many others.
