Dallas is churning out warehouses like never before.
In fact, the Metroplex surpassed one billion square feet of industrial space, according to Colliers. Chicago is the only other market to reach that milestone.
The largest industrial sale of 2023 was in West Dallas, where financial services company R2C SA picked up four buildings that are part of Turnpike Industrial Distribution Center.
Here are the biggest industrial sales of 2023, according to data compiled by Newmark.
R2C SA’s West Dallas acquisition
The August transaction totaled 1.4 million square feet. While the price was not disclosed, the buildings were valued at more than $67 million in 2023, according to the Dallas Central Appraisal District. They are located at: 2271 and 2322 French Settlement Road, 3950 Bastille Road and 4040 Pipestone Road. The center is in West Dallas, just off of Interstate 30, which connects Dallas to Fort Worth.
Gleich Properties picks up DalParc building
Building 1 of DalParc Logistics Center got a new owner in May: San Diego-based Gleich Properties. The 920,000-square-foot building sits on 47 acres in southern Dallas County, near Lancaster. The property is adjacent to an Amazon warehouse and a L’Oreal warehouse. Building 1 was constructed in 2016 and is located at 3350 Altamoore Drive. The price was not disclosed, but the property was valued at over $56 million in 2023, according to DCAD.
Knight-Swift nabs Forney Logistics Center
The eastern Dallas suburb of Forney is becoming an industrial hub. It’s already home to facilities for Amazon, Goodyear and Walmart. In January, the 904,000-square-foot Forney Logistics Center was delivered. In June, it sold to Knight-Swift, the fifth-largest publicly traded trucking company. The property, which is located at 11333 County Road 212, was fully leased when it was sold, and the sale was brokered by Newmark. The price was not disclosed.
Cabot Properties buys Garland portfolio
The GSW portfolio, which included two buildings, traded hands in June. The price was not disclosed. One building, at 975 West Oakdale Road in Garland, spans 221,000 square feet and sits on almost 13 acres. It was built in 2022, and in 2023, it was valued at $15.5 million, according to DCAD. The building at 1113 West Oakdale Road spans 576,000 square feet and was built in 2020. In 2023, the building was valued at a little under $37 million, according to DCAD.
Link Logistics scoops I-30 Distribution Center
The I-30 Distribution Center sold in October to Link Logistics, the largest U.S.-only owner and operator of last-mile industrial real estate. The two-building property spans 750,000 square feet at 3901 and 4001 Adler Road in Dallas. Its tenants include Geodis and FedEx. The sale price was not disclosed, but the property was valued at $44 million in 2023, according to DCAD. The deal was brokered by Newmark.
TA Realty offloads Garland portfolio
Chicago-based Link Logistics was the buyer, and an entity tied to Boston-based TA Realty was the seller, according to property records. This two-building portfolio sold in July. One building, at 1601 South Shiloh Road, spans nearly 132,000 square feet and was built in 2019. In 2023, it was valued at over $8 million, according to DCAD. The other building, at 1801 South Shiloh Road, spans 117,000 square feet and was also built in 2019. DCAD valued it at over $9 million.
Taurus Investments buys Carrollton and Irving properties
Taurus Investment Holdings added six properties – totalling almost 600,000 square feet – to its industrial holdings. One of the buildings, at 2425 Camp Ave in Carrollton, was built in 1979 and spans 120,000 square feet. DCAD valued it at under $5 million last year. Another building, at 1400 Hutton Drive, spans 42,000 square feet and was valued at over $2 million in 2023. At 1410 Dunn Drive, there is a 47,000-square-foot building, valued at over $2 million in 2023. The 119,000-square-foot building at 2301 Crown Court was built in 1975 and renovated in 1999. It was valued at almost $6 million in 2023. Taurus also bought buildings located at 2700 and 2800 Story Road West in Irving. 2700 Story Road is a 22-year-old warehouse that spans 179,000 square feet. It was valued at over $14 million in 2023.
MDH Partners snaps up Fort Worth logistics building
Atlanta-based MDH paid almost $68 million for Building I, at 9450 Burleson Cardinal Road, in the Fort Worth Logistics Hub. The 670,000-square-foot building sits on 39 acres, and the price was about $100 per square foot. VanTrust Real Estate developed the complex, which was delivered in 2022. It is fully leased by Samsung SDS, which provides logistics services to the Samsung Group.
KKR’s $560M industrial divestment includes three DFW assets
In September, global investment firm KKR sold off its 5 million-square-foot industrial portfolio, including three DFW properties: Edmonds 121 in Lewisville; Valwood Trade Center in Carrollton; and Richardson 3110-3120. Edmonds 121 is a 50,000-square-foot building located at 2701 South State Highway 121. Valwood Trade Center consists of two buildings, each measuring 70,000 square feet, located at 1550 Capital Drive and 1545 Crescent Drive. Richardson Logistics Center is a 175,000-square-foot, two-building property located at 3100 and 3110 Shiloh Road. The buyers weren’t identified.