DALLAS--Cadence McShane Construction Co. is set to begin work on Phase 1 of Southport Logistics Park, a new 531-acre master-planned industrial project from the joint venture between Port Logistics Realty (PLR) and Diamond Realty Investments (DRI), a wholly owned subsidiary of Mitsubishi Corp.

Five buildings will be built during Phase 1 of the nine million-square-foot development. The first two will be speculative industrial facilities totaling nearly 1.5 million square feet, scheduled for completion in the third quarter of 2016.

“We are proud to be involved with this exciting, important project,” Will Hodges, president of Cadence McShane, told GlobeSt.com. “We're extremely pleased about our relationship with Port Logistics Realty. We share the same business philosophy: Treat people fairly, do what you say you're going to do and value your relationships. We're excited to be building these projects and others for years to come for Port Logistics Realty.”