This week, two developers have announced major industrial projects in the Texas market. Black Creek Group has acquired 165 acres in Dallas to build the two-building, 2 million-square-foot I-20 Logistics Park, which will be the largest project in the firm's history. Simultaneously, Rastegar Industrial announced that it plans to develop a 530,000-square-foot near Tesla's Gigafactory in Austin.

The I-20 Logistics Park has been in the works for two years with Archway Properties, Black Creek's co-developer, assembling more than 40 land parcels split among 18 properties to create the desirable site. Now, the property is one of the largest development sites along the I-20 Corridor, the area for which the property takes its name.

The park will be built in two phases. Phase one will launch in the third quarter of 2021 with development of a 1 million-square foot industrial facility. Construction will take one year with delivery estimated in the third quarter of 2022. The second phase will undertake the second 1 million-square-foot property, but there is no ground breaking date planned. Black Creek says that the site can accommodate build-to-suits or a future speculative project. Both building will have the flexibility to be occupied by single or multiple tenants. While construction has yet to begin, both properties are being actively marketed for lease by Ryan Thornton and Nathan Lawrence of CBRE.