The Mesquite City Council approved the terms and conditions for constructing and developing a new $60 million business park named Mesquite 635 on Monday, Oct. 18.
The City council approved the plans for the project with CH Realty IX-CE I Mesquite 635, an organization of Creation Equity. They will complete the project in partnership with a real estate fund advised by Crow Holdings Capital.
Mesquite 635 will be a Class A Industrial Business Park located on the southeast corner of Interstate 635 and Hwy 80.
The Mesquite 635 project will have three buildings, with two of them rear-load buildings and the third a front-load building with 32’-36’ foot clear heights on an area of around 555,000 square feet. This complex will also have about 594 parking stalls and 185 truck courts.
The architect and general contractor for the new business park are LGE Design Group and its affiliate, LGE Design Build, respectively.
Planners expect the development to acquire a Certificate of Occupancy for a building of over 159,000 square feet by April 2023, with completion and receipt of a Certificate of Occupancy for other building obligations by April 2026.
In a press release, Taylor Mitcham, Vice President of Transactions at Creation Equity, said that the project will be a “Class A warehouse and office campus.” Mitcham also revealed that the new campus would attract a different type of tenant because of its high level of design and construction.
Mitcham said that the project has also been designed to respect the neighbors. Developers will accomplish this by condensing the traffic in the middle of the property and away from the perimeter. The design also directs the high-end building design to the highway exposure and includes several landscape buffers.
“The City of Mesquite offers tremendous resources to attract tenants and developers; in particular, what might be the best combination of labor quality and availability in DFW and an economic development office that is actively promoting job creation and capital investment to the benefit of this community,” said Michael Balcom, who is a director at Crow Holdings Capital.
Balcom said his organization is looking forward to developing “a high-end project,” and a successful partnership with the City of Mesquite, Creation Equity, and LGE.
Construction work for Mesquite 635 will begin later this year and is expected to end in late 2022 or early 2023.