Prologis and Hunt Realty team on 11.5M sf Texas build-to-suit JV

Hunt Realty Investments is working with Prologis on a build-to-suit joint venture at a 780-acre, fully entitled industrial park 30 miles east of Dallas that can support 11.5 million square feet. Connect CRE reported the pairing on Oct. 23.

The park is Hunt's asset and sits on Interstate 20 with access to Union Pacific's Dallas Intermodal Terminal; buildings can run to 1.9 million square feet, or about six at the campus's 11.5 million-square-foot maximum. Connect CRE says the location reaches 99% of the continental U.S. population within three days or less. The report gives no capital split, tenant, rent or construction start.

For allocators underwriting industrial development, the terms the report leaves out set the risk: land basis, capital split, promote and tenant. A build-to-suit program is ordinarily priced off a signed tenant, shifting diligence from absorption to the tenant's credit, and the report names none. It also does not say whether Hunt's contribution is the entitled land itself.

Prologis lifted its 2026 development outlook to $5 billion to $5.75 billion after a 60 million-square-foot leasing quarter, while flagging higher rates as a risk to values. The report attaches no dollar figure to the Terrell venture.

Connect CRE describes the surrounding market as a growing logistics and distribution corridor with recent activity from Amazon, Walmart and AutoZone. A first signed building, its size and its tenant, would show how much of the 11.5 million square feet is near-term pipeline and how much is land held for later.