Investment firm TA Realty has purchased an industrial park in Lewisville, near the Dallas-Fort Worth International Airport.
The firm bought the 152,000-square-foot MacArthur Business Park near I-35 from Dallas-based Holt Lunsford Commercial Investments for an undisclosed price.
“MacArthur Business Park is a signature project for Holt Lunsford Commercial Investments, and we are honored to work with TA Realty on this transaction,” said Hutton Lunsford, partner and chief investment officer at Holt Lunsford.
Holts Lunsford is currently building two other industrial developments in McKinney and DeSoto totaling 554,600 square-feet, and recently agreed to a 10-year, 100 percent pre-lease deal with Spec’s Wine, Spirits & Finer Foods for its 114,400 square-foot Air Commerce Logistics Center in Fort Worth.
The rapid expansion of DFW industrial properties is putting the market at serious risk of oversupply, according to Savills. The market currently has over 742.2 million square feet of inventory, and 78 million square feet more under construction.
Together with Houston, the market accounted for more than 20 percent of all industrial space under construction nationwide at the end of the second quarter.
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