HomeGoods signs 20-year, approximately 1 MSF lease at Carter Park East, a 556-acre industrial development in Fort Worth
Dallas Morning News (July 8, 2021) - Growing retailer HomeGoods is upping its distribution mojo with a huge new shipping center in south Fort Worth.
Clarion Partners and Crow Holdings Capital are building the 1 million-square-foot industrial project in the Carter Park East Business Park near Interstate 35W, south of Interstate 20.
“This facility will provide tremendous economic benefit for the surrounding area, including jobs and tax revenue, for years to come,” Michael Balcom, director at Crow Holdings Capital, said in a statement.
HomeGoods’ new distribution hub will occupy about 100 acres of the 556-acre Carter Park East campus. The new building will also house the operations of HomeGoods’ sister brand Homesense.
“We’re very excited to welcome HomeGoods as the first tenant at Carter Park East,” Andy Lowe, managing director at Clarion Partners, said in a statement. “We’re proud to work with HomeGoods to support their operations throughout the region.”
Stream Realty Partners arranged the 20-year lease with HomeGoods for the building.
Massachusetts-based HomeGoods has locations across the U.S., including 60 stores in Texas.
“South Fort Worth has emerged as a primary submarket in D-FW with over 4 million square feet delivered since 2017 and another 4.5 million square feet currently under construction,” Stream Realty managing director Seth Koschak said in a statement. “Having a brand like HomeGoods make this level of commitment speaks volumes to the city of Fort Worth, our community and the South Fort Worth industrial submarket.”
Stream’s Koschak, Jeff Rein and Forrest Cook negotiated the huge lease with Tony Kepano and Nathan Lawrence of CBRE.
Along with the HomeGoods building, two speculative buildings with 549,780 square feet and 323,570 square feet of space are under construction in Carter Park East.
“We were long-term believers in this submarket and we’re confident that, with time, Carter Park East would become one of the premiere industrial parks in D-FW,” Carter Park East developer Rob Riner said.