Major Developments in the Dallas-Fort Worth Real Estate Market
A California-based firm has plans for a nearly billion-dollar data center near Love Field. Equinix Inc. outlined details of the project in two filings with the Texas Department of Licensing and Regulation last week. The first filing is for a four-story, 372,517-square-foot data center as well as fixtures, mechanical and electrical equipment at 1550 W. Mockingbird Lane.
Estimated construction costs are nearly $543 million. Construction is expected to begin in February and be completed by October 2027. The second filing is for the interior fit-out of the first and second floors. Estimated construction costs are nearly $294 million. Construction is expected to begin in September 2027 and be completed by March 2028.
Data Center Project Details
Margulies Hoelzli Architecture of New York is the project architect. Details in TDLR filings are preliminary and subject to change. The site was previously home to Balfour Publishing, and Equinix has owned the property since June 2024. Equinix Inc. has eight data centers in North Texas with a majority located in the city of Dallas. The firm purchased the landmark Infomart building for $800 million in 2018.
Attempts to contact the firm before publication were unsuccessful. The data center project is a significant investment in the Dallas-Fort Worth area, and it is expected to create new job opportunities and stimulate economic growth.
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Dallas among Nation Leaders in Home Delistings
Dallas-Fort Worth homeowners are yanking home listings off the market at one of the highest rates in the nation. Bloomberg reports that 7.5% of home listings in North Texas were taken off the market — tied with Philadelphia and West Palm Beach, Fla. Miami saw the highest share of delistings with 7.8% of all listings pulled off the market, followed by Fort Lauderdale with 7.7%.
Nearly 85,000 U.S. sellers removed their properties in September, the highest for that month in eight years, according to Redfin. The number of stale listings — those that sit on the market for 60 days or more — jumped to the highest level for any September since 2019. About 15% of homes that were delisted in September were at risk for selling at a loss. That’s the highest share in five years, Redfin reported.
1-Million-Square-Foot Industrial Development in Fort Worth
Holt Lunsford Commercial Investments has begun work on Carter Crossing, a three-building, Class A industrial park totaling just over 1 million square feet. The site is located at 6901 Wichita St. in Fort Worth. The groundbreaking of Carter Crossing represents a significant milestone for Holt Lunsford, bringing the firm just shy of $1 billion in development activity across D-FW.
Construction began earlier this year and is expected to be finished by August 2026. The project is financed by Comerica Bank. The industrial development is expected to create new job opportunities and stimulate economic growth in the Fort Worth area.
New Luxury Apartments near Highland Park
Dallas-based Cawley Partners broke ground on a new apartment development at 5801 Grassmere Lane in Dallas. The project will feature 44 “boutique” apartments in the Highland Park Independent School District. The units will range from one to three bedrooms with an average size of 1,205 square feet.
The project architect is Dwell Design Studio and New Path Construction & Consulting, LLC is the general contractor. The luxury apartments are expected to be a welcome addition to the Highland Park area, offering residents a unique and desirable living experience.
Lincoln Property Acquires Student Housing Firm
Dallas-based Lincoln Property Company last week acquired Capstone Management Partners, a leading student housing and university facilities development and management company. Capstone will continue to operate as Capstone Development Partners, powered by Lincoln. Co-founders Bruce McKee and Jeff Jones will continue in their leadership roles for Capstone.
William Davis, Capstone’s chief development officer, will become managing principal. “Capstone has long been a recognized leader in student housing and campus facilities development,” Alison Daubert, chief strategy officer at Lincoln Property Company, said in a statement. “Their specialized expertise complements Lincoln’s national platform with robust resources, allowing us to better support higher education institutions with even greater experience and expertise.”
Conclusion
The Dallas-Fort Worth real estate market is experiencing significant developments, from the construction of a nearly billion-dollar data center to the acquisition of a student housing firm. These developments are expected to create new job opportunities, stimulate economic growth, and provide desirable living and working spaces for residents and businesses.
Frequently Asked Questions
Q: What is the estimated construction cost of the data center project?
A: The estimated construction cost of the data center project is nearly $543 million for the first phase and nearly $294 million for the second phase.
Q: How many homes were delisted in September?
A: Nearly 85,000 U.S. sellers removed their properties in September, the highest for that month in eight years.
Q: What is the size of the industrial development in Fort Worth?
A: The industrial development in Fort Worth is a three-building, Class A industrial park totaling just over 1 million square feet.
Q: How many apartments will be featured in the new luxury apartment development?
A: The new luxury apartment development will feature 44 “boutique” apartments in the Highland Park Independent School District.
Q: What is the name of the student housing firm acquired by Lincoln Property Company?
A: The student housing firm acquired by Lincoln Property Company is Capstone Management Partners.
