King Yuan Electronics, a Taiwanese company, planted a flag at a 27-acre property in Fort Worth as it gears up to build a $1.3 billion semiconductor testing plant.
The company purchased the land from an entity tied to ASB Real Estate Investments for $79 million.
The land deal is a meaningful step towards making the $1.3 billion project reality. King Yuan is planning to utilize the facility to test chips for Nvidia, the multinational graphics processing units manufacturer and AI infrastructure company, according to the Fort Worth Business Journal.
A filing with the Texas Department of Licensing and Regulation revealed some tentative details about the building, dubbed Everman Fort Worth Building 2. Construction costs are pegged at $300 million for the 507,000-square-foot building at 273 West Everman Parkway. The design firm attached to the buildout is Plano-based Kara architecture and interior. Construction was expected to begin late this month and extend until the listed completion date in August 2027.
King Yuan would be investing at least $1 billion in real property and $300 million on equipment for the facility, according to previous reporting from the outlet. The Fort Worth City Council was expected to vote on tax breaks for the company earlier this week.
The proposed facility is yet another indicator that the artificial intelligence race is providing a massive boom in industrial real estate value and pace of building. Arguably the most visible part of that boom is in data centers, which are rapidly becoming politically radioactive.
In the recent Emerging Trends in Real Estate report from the Urban Land Institute and PricewaterhouseCoopers, robust industrial development in the Dallas-Fort Worth area was noted as a factor in naming the region the number one market to watch in 2027. Other factors included the relatively affordable local housing market and big banks setting up shop in the area.
— Hunter Cooke
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This article originally appeared on The Real Deal. Click here to read the full story.
