Jerry Jones heads to Denton County for latest industrial property play
The Dallas Morning News - Steve Brown
North Texas is the country's top industrial building market with more than 30 million square feet of warehouse space under construction. (David Woo / Staff Photographer)
Dallas Cowboys owner Jerry Jones is expanding his industrial real estate sights with the purchase of a large site in Denton County.
Jones’ Blue Star Land has purchased 274 acres for industrial construction on Interstate 35 north of Denton. The property is adjacent to a major Walmart distribution center in the town of Sanger.
Warehouse and distribution development activity in the Denton area has been picking up in the past year, and the tract Blue Star purchased is one of the largest sites to change hands.
“Denton is basically out of any more industrial sites to accommodate large users and this site is well positioned to serve as the new business logistics center for the area,” said real estate broker Rex Glendenning with Rex Real Estate. “I feel the I-35 corridor north of Denton is extremely well positioned.”
Glendenning and Randy Potts with Harvest Real Estate brokered the property sale with Randy Smith of Smith Properties.
This is the latest in a series of recent industrial property plays by Blue Star Land.
The Jones family’s real estate arm has purchased more than 120 acres on Interstate 35E in Waxahachie for a mixed-use project that will include industrial and e-commerce buildings. And late last year, Blue Star Land bought 40 acres on First Street in Prosper to build a business park.
Blue Star Land has also made several industrial development site purchases between Preston Road and the Dallas North Tollway in Frisco. Jones’ more than 200-acre Star Business Park off Preston Road south of U.S. Highway 380 has attracted multiple industrial building tenants.
Dallas-Fort Worth is the country’s largest industrial building market with more than 25 million square feet of space under construction.