www.REBusinessOnline.com October 2020 • Volume 16, Issue 8 SPEC INDUSTRIAL DEVELOPMENT ACCELERATES By Taylor Williams Rents are returning to pre-pandemic levels as user demand ticks up, and it’s not just e-commerce that is leading the charge. I VanTrust Real Estate is underway on construction of Phase I of Fort Worth Logistics Center, a 1.3 million-square-foot project in South Fort Worth. The submarket is one of the few areas in the metroplex where quality sites for projects of this size can be found. ndustrial developers throughout the major markets of Texas are hustling to acquire and entitle land, arrange construction financing and break ground on projects to meet ever-growing requests for an increas-ingly diverse group of users. Accelerated demand for e-com-merce and logistics services and sustained population growth ensure that new, well-located industrial spaces will be absorbed as soon as they come on line — if not before then. Developers are increasing the proportion of spec projects within their portfolios in response to this. A recent example of such a proj-ect is the 1.3 million-square-foot Fort Worth Logistics Hub, a spec project by locally based developer VanTrust Real Estate that is designed to meet rising demand from logistics us-ers. The developer broke ground on Phase I of the project, which is located in South Fort Worth, in late October and expects to deliver a 670,941-square-foot building in July 2021. “Right now, nearly all of our projects across 10 major markets, SEE DEVELOPMENT page 20 MIXED-USE DESTINATIONS MUST BE REDESIGNED Key trends centered around cost-cutting and safety will define architectural approaches to these projects in the post-pandemic world. A By J.F. Finn and Duncan Paterson of Gensler Here are some scenarios and op-portunities we believe can help de-signers and developers transition into the “new normal” requirements for mixed-use environments and public spaces. cross the globe, people have re-placed in-person visits to sports and entertainment venues, re-tail centers, convention facilities and other mixed-use environments with virtual gatherings and Zoom meet-ings. Yet the prevailing view in commer-cial real estate is that virtual engage-ment is not a long-term substitute for authentic human interaction. In fact, the current crisis is only reinforcing the vital role that public spaces play in bringing people together and promot-ing health and wellbeing. The question is, “What has to change for mixed-use developments to be both safe and vibrant?” Modular Gains Traction COVID-19 has created an acute need for pop-up, flexible and adapt -able spaces — facilities that are all tailor-made for modular construction. This current surge in demand will both accelerate the removal of many existing barriers to the growth of modular construction and provide some very compelling advantages in the future. These changes should SEE DESIGN page 22 Centurion American is redeveloping the site of the former North Mills Mall outside of Fort Worth into City Point, a $300 million project that will feature single-and multifamily residences, as well as office, retail and restaurant space. INSIDE THIS ISSUE What Industries Are Fueling Growth in the Texarkana Area? page 17 Want to receive this magazine at home? Visit www.francemediainc.com/ publications to temporarily change your address today. Why the Dallas Office Market Should Have an Expedited Recovery page 18