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Former Trammell Crow executive hot on 'untapped resources' in south Fort Worth SUBSCRIBER CONTENT: Feb 20, 2020, 8:48am CST
[Alliance Industrial Portfolio Resized for BJ]
DEBRA HALE

The first phase of Ascendant Commercial's south Fort Worth industrial park is expected to break ground this summer.

Former Trammell Crow Co. executive Steven Bradford and his Dallas-based Ascendant Commercial Real Estate have announced plans for a 2.2 million-square-foot industrial park in south Fort Worth.

The three building park, which will break ground on its first phase this summer, will be located on the northwest corner of Interstate 35 and Texas Highway 1187 and occupy 130 acres.

The first phase will feature an 850,000-square-foot spec warehouse, the largest single spec warehouse in south Fort Worth, according to CBRE. Other phases could begin once the first warehouse delivers in May 2021.

Scott Moore and Steve Koldyke of CBRE are marketing and leasing the property, while Halff Associates has designed the project.

Bradford says a number of factors have contributed to his interest and confidence in south Fort Worth, including its proximity to major highways, lower cost of entry than north Fort Worth and a sizable local work force.

"North Fort Worth has been successful, and as a result, people who live in the Crowley area are all getting on I-35 and driving up there to work. There are lots of rooftops down here but historically, it's not been a big distribution location. That has changed over the past 24 to 36 months," said Bradford. "While Alliance has done well, those areas get built up, and prices go higher. The labor pool has also shrunk up there because of the existing companies. In south Fort Worth, we have great proximity, great connectivity, a good labor pool and it's an area that can really service both south Dallas and south Fort Worth. The advantage it has over south Dallas, too, is that there's not really a booming labor pool there like there is here."

Though phase one of the new park will be the largest of its kind in the area, Bradford and the leasing team he's working with at CBRE are confident that the demand will be there.

"We have seen very strong demand in south Fort Worth for bigger box product because of the area’s excellent logistics location with close proximity to I-20 and I-35,” said Moore, first vice president of CBRE, in a prepared statement. “South Fort Worth has a labor force that is only rivaled by Forney and Terrell, so this project fills a void that is needed in the submarket."

More than 1 million square feet of industrial space is currently under construction in south Fort Worth, according to CBRE.

Since Bradford started Ascendant Commercial in 2011, the company has developed nearly 15 million square feet of industrial property across the country, including nearly a dozen fully-leased projects in North Texas. The company is also currently working on a multi-phase industrial project in Calgary. Despite the opportunities he's found elsewhere, Bradford believes North Texas remains one of the most dynamic markets in the country.

"There's still a low point of entry for companies looking to move here, both on the residential cost-of-living side and the labor pool side. We're not impaired from growing due to any oceans or mountains or major rivers, and because of that, the market has remained competitive. If rates get too high in one area, another area starts to grow. These are the same reasons why I love south Fort Worth. There are untapped resources here that will speak strongly to companies looking to not only expand locally but also to new companies coming into Fort Worth," Bradford said.

Ryan Salchert
Staff Writer
Dallas Business Journal