Philadelphia-based Arden Logistics Parks has bought a big portfolio of North Texas industrial properties from MoxieBridge, a Dallas-based private real estate investor. The acquisition includes a total of 19 buildings totaling more than 764,000 square feet throughout the Dallas-Fort Worth area.
The properties are primarily in the eastern and northern suburbs of Dallas. The biggest buildings named in the purchase are 545 Commerce in Southlake, 902 Fountain in Grand Prairie, 2120 Vanco in Irving, 12400 Ford in Farmers Branch, 1705 John Connally in Carrollton, 3325 Halifax in Dallas, 15301 Midway in Addison, 3609 Marquis in Garland and 3301 Innovative in Mesquite. The buildings are 96 percent leased to 29 tenants, according to the Dallas Morning News.
With this acquisition, Arden Logistics is “now approaching 2 million square feet of assets in the region,” said chairman and CEO, Craig A. Spencer. Founded in 1989, the firm has acquired $7 billion in industrial properties across Atlanta, Boston, Charlotte, Columbus, Houston, Indianapolis, Philadelphia, San Antonio, Tampa and other markets.
The sale price of the DFW portfolio was not disclosed.
More than $1.4 billion in North Texas industrial and warehouse buildings were sold in the year ending in May, according to the latest data from Yardi Systems. More than 70 million square feet of DFW warehouse space is under construction — the most of any U.S. metro area.
Alliance Industrial is planning a sprawling logistics complex in Kyle, off I-35 near the corner of Logistics Drive and South Goforth Road. It will have five logistics facilities ranging from 140,000 square feet to 475,000 square feet.
Houston’s Archway Properties is developing a 10-acre industrial park in Irving within the Dallas-Fort Worth metroplex near the Dallas-Fort Worth International Airport on State Highway 114 and West Royal Lane.
Stream Realty Partners has started development of a 3.4-million-square-foot industrial complex in Mesquite, just east of Dallas.
Read more
Development
Texas
Giant industrial park slated for Dallas area
Commercial
Dallas
Stream Realty plans 3.4-million square foot Dallas development
[DMN] — Maddy Sperling