CA Industrial (“CA”) and Longpoint Realty Partners (“Longpoint”) today announced the groundbreaking of the M‑75 Distribution Center, a 304,565-square-foot industrial and logistics facility in McKinney, Texas. The joint venture partnership expects to wrap construction in the third quarter of 2023.
“McKinney has become one of the most desirable cities in the Dallas-Fort Worth region for last mile distribution facilities due to its rapid growth over the last ten years as well as its connectivity to key regional and national transportation nodes. Given the rapid growth of the region and subsequent momentum behind the local industrial market, we are confident the M‑75 Distribution Center will be incredibly well received by prospective tenants,” said Joe Trinkle, executive vice president and Southwest market officer for CA Industrial. “We are excited to further build on CA Industrial’s track record of delivering premium industrial and logistics facilities across some of the country’s most renowned e‑commerce/distribution hubs, and welcomed the opportunity to partner with Longpoint, which has a similar vision and proven track record of investing in these high-performing assets,” added Michael Podboy, president of CA Industrial.
The M‑75 Distribution Center is strategically situated just southwest of the McKinney National Airport and roughly 30 miles from downtown Dallas. The facility is two miles from the intersection of state highways 121 and 75 and three miles from State Highway 380, allowing easy connectivity to the local region and beyond. The site also offers direct access to Dallas Fort Worth’s growing residential areas and immediate connectivity to major infrastructure via SH 75 Sam Rayburn Tollway, and Spur 399. Building features include 36-foot clear heights, cross dock loading, 60 exterior docks, 4 drive-in doors, 130 – 190-foot truck courts, 38 trailer parking stalls and 217 auto parking spaces. The Conlan Company serves as general contractor for the project and JLL’s Randy Touchstone and Kody Combie serve as leasing brokers for the building.
“We are excited to partner with CA Industrial, which has a long history of successfully investing in and developing high-quality industrial assets, on our second logistics development in the Dallas area,” said Reid Parker, founding partner at Longpoint. “M‑75 exemplifies our strategy of developing best-in-class industrial buildings that cater to logistics tenants who are serving the growing populations of our target markets.”
Since inception, CA Industrial has closed transactions totaling approximately $1.2 billion of project costs and has more than 10.3 million square feet of industrial space currently under development in key U.S. markets including in Phoenix, Dallas, Orlando, Atlanta, Savannah, Columbus and Indianapolis. CA Industrial operates alongside Centris Industrial, Inc. (“Centris”), an externally managed private real estate investment trust (REIT) created to strategically invest in speculative ground-up industrial and logistics projects across the United States.
Longpoint is led by principals who average more than 20 years of industry experience, including more than 15 years working together, who collectively have invested approximately $5.7 billion and managed approximately $9 billion in real estate over the course of their careers. The company also has 3 million square feet of industrial space currently in development in key U.S. markets including Southern California, Texas, Florida, New Jersey and Atlanta.