A privately-funded industrial development known as Synergy Crossing continues to take shape in Northeast Fort Worth.

The development’s latest project, Synergy Crossing Building 400, is underway near Harmon Road and Golden Triangle Boulevard.

The 739,788-square-foot concrete industrial facility and nearby parking will cost an estimated $20,170,000, according to information from the Texas Department of Licensing and Regulation.

Building 400 is part of an overall 2.8 million-square-foot logistics park project spearheaded by Ironwood Realty Partners, Ironwood President Bob Rice said.

The logistics park is currently at 1.2 million square feet of total capacity, Rice said , with construction of an additional 1.1 million square feet of space planned in 2020.

The land for Synergy Crossing was purchased for speculative development in late 2016 and occupies a total of 170 acres near Golden Triangle and I-35W, including more than 6 acres along the I-35W frontage road, which has the potential to be used for retail, Rice said.

According to CBRE’s fourth quarter report, the industrial vacancy rate was 5.8% for North Fort Worth at the end of 2019. CBRE numbers indicate the North Fort Worth area maintains more than 12 million feet of industrial space under construction.