Seefried Adds Breathing Room to RiverPark

GRAND PRAIRIE, TX-In an off-market deal, Atlanta-based Seefried Industrial Properties Inc. has picked up a 13.7-acre tract to get some development breathing room for its 335-acre RiverPark. The developer was down to 28 raw acres after seven years of construction and leasing.

Bob Rice, Seefried’s regional vice president, is pushing the site at 3350 Trinity Blvd. for one of the build-to-suit deals in the market, but he isn’t ruling out spec down the road. He tells GlobeSt.com that the land is banked until he leases up the 10% vacancy in the park unless a BTS offer comes along. For now, the leasing focus is a 150,000-sf opening due to Houston-based CEVA Freight Logistics LLC’s relocation to a build-to-suit on ground-leased land at Dallas/Fort Worth International Airport and the just-delivered 328,828-sf RiverPark 700.

“We’re getting just about built out in the park. The opportunity presented itself. It made sense for a lot of reasons,” Rice says. “Basically, we’re drafting off everything we’ve done and to expand the park.” The first building delivered in July 2002, nearly two years after Seefried bought the original 320 acres along the Fort Worth-Grand Prairie border. The development now holds more than 4.1 million sf of industrial and flex office space in one-time spec and BTS projects.