The first phases of two office projects along northwest Beltway 8 are expected to open this fall. Phase 1 of the DCT Northwest Crossroads Logistic Center will deliver in December, and work is continuing on Phase 1 of Panattoni Development's 124-acre Beltway Crossing Northwest, which broke ground in May.
Beltway Crossing Northwest will feature 1.8 million rentable square feet of warehouse distribution and flex office space. Available sites range from two to 75 acres and roughly 800,000 square feet for build-to-suit opportunities. Todd King, a Panattoni Development Company partner, said the park's proximity to Beltway 8, Hwy. 249 and Hwy. 290 makes it ideal for industrial tenants.
"The infrastructure is there for what companies are looking for in terms of transportation and also what I'd characterize as employment infrastructure," he said.
The park will be located on Gessner Road between Beltway 8 and Hwy. 249. Plans include seven buildings ranging from 67,200 square feet in Building 1 to 520,000 square feet in Building 3. Phase 1 of the project includes buildings 1, 5 and 7, totaling 663,000 square feet of office, warehouse and distribution space. Panattoni is partnering with LaSalle Investment on the project.
The DCT project, located on Windfern Road between Gessner and Fallbrook roads, has already attracted the attention of Lennox International—a Texas-based HVAC manufacturer—which preleased 190,000 square feet of Phase 1 in July. The Lennox acquisition uses 52 percent of the space in Phase 1, leaving around 171,000 square feet.
DCT also broke ground in early September on Phase 2 of the project—a 320,000-square-foot cross-dock distribution center—which is expected to deliver in March 2015. DCT Industrial's Will Hedges said the park can accommodate users ranging from 45,000–500,000 square feet across both buildings. Plans for the park also involve putting in a new road providing immediate access to Beltway 8.