CBRE Investment Management has acquired a two-building, 540,324-square-foot Class A industrial park in Fort Worth, Texas. JLL Capital Markets represented the undisclosed seller.
Westside 35 was recently completed and is fully leased to three tenants, Gulf Relay, Mattel Sales Corp., and Texas Corrugated Box and Packaging. The park comprises two front-load warehouses, both with 36-foot clear heights and 185-foot truck courts. Building A offers 59 dock-high doors, two oversized doors, 54 trailer parking spaces and 188 auto spaces. Building B features 50 dock-high doors, two oversized doors, 53 trailer parking spaces and 185 auto spaces.
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Located at 2555 and 2575 Downing Drive, Westside 35 is close to I-35 and I-820, 10 minutes from downtown Fort Worth, 18 minutes from Alliance Airport, 25 minutes from Dallas-Fort Worth Airport and 40 minutes from downtown Dallas.
The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Directors Dom Espinosa and Zach Riebe and analysts Matthew Barge and Jake Benalloul.
Record activity
Demand for industrial product in Dallas–Fort Worth remains near record high levels, as deliveries of 9.9 million square feet and total groundbreakings of 9.2 million square feet in the third quarter evidence nation-leading construction activity, according to a report from JLL.
The North Fort Worth warehouse/distribution submarket has seen 5.9 million square feet of net absorption year-to-date, on an inventory of 96.6 million square feet, resulting in an overall availability of 14.7 percent, also according to JLL.
Not quite two weeks ago, Samsung signed a lease for all of a 670,941-square-foot building, the first phase of VanTrust Real Estate’s 41-acre Fort Worth Logistics Hub, at Risinger Road and I-35 West.
The post CBRE Investment Management Buys Dallas-Area Industrial Park appeared first on Commercial Property Executive.
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