DALLAS, November 30, 2020 - JLL Capital Markets announced today that it has closed the sale of and arranged acquisition financing for an eight-property shallow bay industrial portfolio totaling 606,889 square feet within infill markets in the Dallas-Fort Worth metroplex area.

JLL worked on behalf of the seller, Fort Capital. Birtcher Anderson, in a joint venture with Belay Investment Group, purchased the portfolio. Additionally, JLL worked on behalf of the new owner to place the five-year, floating-rate acquisition loan.

The 95-percent-leased multi-tenant portfolio includes Manana Business Park at 2526 Manana Dr. in Dallas; Garden Brook Industrial at 3109, 3113 and 3300 Garden Brook in Farmers Branch; 4101 Lindberg in Addison; Luke Business Park at 1100-1220 Luke St. in Irving; Hickory Business Park at 1665 Hickory Dr. in Haltom City; and 1115 and 1101 NE 23rd St. and Suffolk Industrial Park at 2901, 2905, 2921 and 2951 Suffolk Dr. in Fort Worth. All these properties are in premier infill locations in established industrial submarkets near major transportation arteries.

The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Director Stephen Bailey, Managing Director Dustin Volz, Senior Director Zane Marcell and Analysts Wesley Gilmer and Erin Lazarus.

The JLL Capital Markets Debt Placement team representing the new owner included Senior Director Cullen Aderhold.

The Dallas-Fort Worth Industrial market continues in 3Q 2020 to set its record run of growth as one of the top industrial markets in the country. JLL reports that strong fundamentals and ongoing demand for space in the DFW market will continue to push rents higher along with new speculative construction well into 2021.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

Attachments

  • Original document
  • Permalink

Disclaimer

Jones Lang LaSalle Inc. published this content on 30 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2020 17:20:02 UTC