October 2018 - JLL completes land sale, selected to lease Layne Crossing
JLL today announced Dallas-based Crow Holdings Industrial purchased 45 acres of land within Greens Crossing Business Park for the development of a 530,000-square-foot industrial project named, Layne Crossing. Crow Holdings Industrial purchased the land from Dallas-based Sarofim Realty Advisors. JLL’s Richard Quarles and Bubba Harkins represented Sarofim Realty Advisors in the transaction. Cory Driskill and Travis Covington of Crow Holdings Industrial represented themselves in the transaction.
Layne Crossing will encompass six industrial warehouse buildings including two front load buildings, two rear load buildings, one cross-dock building and one side load building. They will range from 56,400 to 174,000 square feet. Additional features of the project will include large truck courts, trailer storage, and clear heights ranging from 24 to 32 feet.
Situated in the north industrial submarket, the development will offer frontage along Beltway 8 and direct access to Interstate 45. Additionally, the project is proximate to Bush Intercontinental Airport.
“The addition of Layne Crossing to our portfolio exemplifies Crow Holdings Industrial’s commitment to developing quality assets in strategic locations. Layne Crossing offers multiple points of access to two major freeways, excellent branding opportunities with frontage on Beltway 8 and I-45, and the opportunity for companies to locate their business in a high quality well maintained business park,” said Driskill.
Layne Crossing is set to break ground in January and will deliver in the fourth quarter of 2019.
“With a variety of building configurations and sizes, Layne Crossing will be a flexible development that can accommodate and support users from any number of industries,” said Quarles, who along with Mark Nicholas, Geoff Perrott and Joe Berwick will market and lease the project for Crow Holdings.
According to JLL research, the north industrial submarket has captured 28 percent to total market leasing activity year-to-date, with 4.1 million square feet of leasing so far this year.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 86,000 as of June 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
This overview is designed to introduce Crow Holdings and its various operating companies. Crow Holdings Capital is a U.S. SEC registered investment adviser and is the manager to the Crow Holdings Capital Funds. Maple Capital Management, L.L.C. is a U.S. SEC registered investment adviser and is the manager of the Crow Holdings Industrial Build-to-Hold Fund. Crow Holdings Capital, Trammell Crow Residential and Crow Holdings Industrial are operated separately and independently from one another with separate senior leadership and investment committees.