Developers have gotten funding to kick off another huge industrial development in Mesquite.
The big warehouse planned at 2800 Skyline Drive south of U.S. Highway 80 will total 756,668 square feet. Dallas-based Capstar Real Estate Advisors is building the project, which is scheduled to open early next year.
Capstar is also the owner of a 91-acre industrial property on Skyline Drive that is being repurposed as a $250 million manufacturing plant for Canadian Solar. The Canada-based firm will also be a tenant in the new building.
Capstar has been in business since 2006 and has done multiple property deals in North Texas.
JLL Capital Markets arranged the joint venture equity partnership to fund the new development. JLL’s Jody Thornton, Trent Agnew, Tom Weber and Greer Shetler worked on the deal.
The industrial districts east of Dallas have been one of the busiest areas for developers in the last three years, with more than 4 million square feet of new buildings added, according to JLL.
Almost 6 million square feet of industrial space was under construction in the markets east of Dallas at the end of 2023, including Mesquite, JLL reports. Over 4 million square feet of net leasing was reported in the area last year.
Dallas-Fort Worth is the nation’s fastest growing industrial market with over 35 million square feet under construction.
