GlobeSt.com EXCLUSIVE: Permits Being Readied for 100,000-SF BTS

FORT WORTH-Bunge North America will relocate its only Texas operation to a build-to-suit in Carter Park. The St. Louis-based firm has signed a long-term lease for a 10.2-acre manufacturing facility with roughly 100,000 sf.

The build-to-suit will house Bunge Oils, a manufacturer of shortenings, bakery margarines and salad and cooking oils. The firm currently owns a 178,359-sf manufacturing facility on 16.9 acres at 400 E. Exchange Ave., according to Tarrant County tax records. The corporation bought the 1902-constructed building in 1989.

The dealmakers aren’t talking about the project, but city officials have confirmed for GlobeSt.com that permits are about to be pulled and a request for abatements has been scuttled. Officials estimate the Snowden Road development’s value at $10.9 million.

Sacramento-based Panattoni Development Co., which has landed several food processing projects in Dallas/Fort Worth this year, will own the building, which will be built by its Dallas construction group. Jon Napper, Panattoni’s Texas partner, negotiated the deal along with Bunge’s brokers, Greg Trout, president of Dallas-based Henry S. Miller Commercial, and senior vice president John Brewer.

Bunge North America’s spokeswoman declined to comment on the project or the fate of the East Exchange Avenue property, but city officials say it will go dark when the build-to-suit delivers in the 950-acre park. Based on usual construction schedules, the structure should be ready to occupy in early 2006.