The Deal Sheet; Two Spec Deals Break Ground

Holt Lunsford Commercial is starting a pair of spec projects this month: one in Carrollton and one in Coppell. The last time there was this much speculation in Texas, it involved Friday Night Lights plot guesses.

We were on hand for the action. The first is a 295k SF, two-building industrial project that broke ground in Carrollton last week. Holt Lunsford Commercial's J. Scott Moore and Jim Brice will be leasing both projects. We snapped the guys playing in the dirt at Crosby Trade Center in the Valwood submarket off of I-35 and Crosby; the project is a JV development between Frontier Equity, a division of Holt Lunsford Commercial, and Chicago-based ML Realty Partners. (And yet another photobomb by a backhoe--the Jennifer Lawrence of heavy machinery.)

Jim (pictured) tells us this is one of the last infill sites in Carrollton with access off I-35. J. Scott tells us there's a lack of quality space availability in the Northwest Dallas and DFW Airport markets. And with the majority of the recent developments focused on big box warehouses, there was a need for an infill shallow bay development. Plus, the current overall vacancy rate in the Valwood/North Stemmons industrial submarket is 8%, he says. J. Scott tells us there are a few deals circling for occupancy in both the front and back building, but nothing inked yet. Comerica is providing the lending, RGA Architects designed, and ICI Construction is building. Holt Lunsford is also breaking ground this Thursday on a 279k SF Phase 3 of Coppell Trade Center in the 800 block of Sandy Lake Road at Freeport Parkway in Coppell in partnership with LaSalle Management.