On the far northern edge of Fort Worth, a brand-new concrete giant is officially in play. Falcon Commercial Development has wrapped construction on Saginaw Distribution Center, a 321,193-square-foot speculative warehouse at 355 E. McLeroy Boulevard in Saginaw. The project is being offered for lease or sale and gives the already busy industrial corridor one more modern option for third-party logistics, e-commerce, and light manufacturing users, adding to the region’s inventory of mid-sized distribution space across the Dallas-Fort Worth market.
Developer completes project
Falcon’s milestone move from dirt to finished shell showed up this week in an industry brief from CoStar. That report confirms completion of the 321,193-square-foot building at 355 McLeroy Blvd. and lists NAI Robert Lynn as the leasing firm, with brokers Todd Hubbard, Jeff Jackson and Michael Newsome handling inquiries. The item is essentially a status change notice for the market: construction is done, and the project has moved into full-on marketing mode.
Who backed and financed the project
The warehouse was developed by Falcon in a joint venture with investor Pearlmark, a partnership first made public when the project was launched, according to REBusinessOnline. That coverage noted that JLL arranged construction financing through First United Bank, while Newmark was tapped to secure equity for the venture. From the outset, the team pitched the building as a speculative product aimed at capturing growing industrial demand in northern Tarrant County.
Building specs and site details
Falcon’s project materials describe Saginaw Distribution Center as a 32-foot clear-height facility equipped with an ESFR sprinkler system, a deep truck court and speculative office build-outs, all spread over roughly 38.5 acres. The developer posts documentation and a marketing flyer on its website at Falcon Commercial Development, outlining the basic specs and layout. Public listing information on LoopNet highlights a large truck court, multiple rows of parking, and dozens of loading docks, along with detailed counts of dock bays and parking spaces for tenants working through their site selection checklists.
Marketing and brokers
Listing platforms show the property can be leased in configurations starting at about 125,000 square feet up to the full 321,193-square-foot building, with NAI Robert Lynn serving as the exclusive leasing brokerage. Crexi hosts a marketing page that includes a flyer, preliminary pricing signals, and contact information for the leasing team, while the public listing also features site plans and breakdowns of potential unit sizes. Prospective tenants and investors are invited to request tours directly through the listed agent on the marketing portals.
Where this fits the DFW market
The new Saginaw facility lands squarely in the mid-size warehouse category, a slice of the market that has been feeling the effects of a wave of speculative deliveries. In its Q1 2026 MarketBeat report, Cushman & Wakefield pegged overall Dallas-Fort Worth industrial vacancy at about 8.3 percent, even as leasing activity picked up. That backdrop suggests that freshly delivered, mid-sized speculative projects like Saginaw Distribution Center will likely have to compete on pricing and concessions if they want to land tenants quickly. For owners and occupiers tracking the Metroplex, the arrival of a modern 321,193-square-foot asset north of Fort Worth is another data point in a market where big-box demand and selective speculative construction continue to set the tone for deal flow.
For now, Falcon and its equity partner Pearlmark have the building ready and waiting, and NAI Robert Lynn’s Fort Worth office is actively marketing the property for lease or sale (NAI Robert Lynn). The outlet contacted Falcon and NAI Robert Lynn for additional comment and will update this story if either party shares more details. Readers can find further information through the developer and brokerage marketing pages linked above.
