Hunt Southwest closes on site, starts construction on first of two new 200,000 SF spec industrial facilities in McKinney
Unique public-private partnership drives development in fast-growing city
Dallas — October 31, 2017 — Hunt Southwest Real Estate Development has closed on land and started construction on the first of two 200,000 square foot spec industrial facilities in McKinney, the result of a unique public-private partnership targeted at driving new development in the fast-growing community.
Located at 900 Wilmeth Road, the state-of-the-art 75/Wilmeth @ McKinney building offers direct access to U.S. 75 and is adjacent to PACCAR’s recently announced truck manufacturing campus and the UPS-McKinney hub. The 202,270 square foot building will be configured as a front-park, rear-load facility and offers amenities such as 32’ clear height, ESFR sprinkler, LED warehouse lighting with motion sensors, skylights, 43 dock-high doors, painted interior walls and over two acres of additional land for parking or outside storage. Construction is expected to be completed in June 2018.
In August, the McKinney Economic Development Corporation (MEDC) selected Hunt Southwest, after a competitive RFP process, to develop the new industrial facilities. “This development is an important component in our strategic plan and reflects McKinney’s innovative approach to advancing significant industrial product development in the coming years,” said MEDC President Darrell Auterson. “As the third fastest-growing city in the country, and with available land and unparalleled business and community assets, we have the unique opportunity to attract high-profile developers and industry-leading companies looking to expand or relocate.”
MEDC and the City of McKinney offered a combination of infrastructure reimbursement and tax abatements to incentivize speculative industrial development, which appealed to Hunt Southwest as it has looked to expand its presence in the North Texas market.
“Our partnership with MEDC and the City of McKinney is allowing us to bring to market 400,000 square feet of new, spec industrial in one of the most economically vibrant communities in North Texas,” said Hunt Southwest Vice President T. Preston Herold. “These two new facilities will provide state-of-the-art amenities, and we expect strong interest from light manufacturers, distributors, warehousers, service providers, suppliers and last-mile e-commerce users who want to capitalize on McKinney’s highly educated workforce, nationally acclaimed quality of life, and competitive business incentives.”
Hunt Southwest anticipates purchasing the second building site from MEDC by the end of the year. Construction on the second 200,000 square foot building, named 75/380 @ McKinney, will begin in the 2nd quarter of 2018. It will be located at the intersection of Corporate Drive and Commerce Drive in University Business Park.
About Hunt Southwest Real Estate Development
Hunt Southwest Real Estate Development is a Dallas-based, full-service real estate development company with a focus on industrial, office, retail, mixed-use, multifamily and residential real estate development in the Texas market.
Hunt Southwest is a joint venture between Hunt Midwest and Unity Hunt. It is the second real estate development enterprise founded by the Lamar Hunt family, following the success of Hunt Midwest, which was established in 1985. The Hunt family business is a diverse portfolio of entities involved in real estate, sports/media, energy/resources, private equity and investments. Other marquee entities include the Kansas City Chiefs, FC Dallas Soccer Club, Toyota Stadium, Chicago Bulls and United Center.
For more information on 75/Wilmeth @ McKinney: please click here.
McKinney, Texas, is unique by nature. As one of the fastest growing cities in America, McKinney has a current population of more than 168,000. The city was #1 on the list of Best Places to Live in America in 2014, published by Money Magazine. Established in 1848, the city is located 30 miles north of Dallas and is the county seat of Collin County. McKinney offers award-winning schools, a vibrant historic downtown, diverse housing options, a robust economy and a uniquely beautiful natural setting, with rolling hills and lush trees. Visit the city’s website at www.mckinneytexas.org.