Hines Expands DFW Industrial Footprint
- May 03, 2018
Hines has acquired DFW East Logistics Center, a 260,000-square-foot industrial park in Irving, Texas, from Bradford Commercial Real Estate Services. At the time of sale, the property was 15 percent occupied.
Located on an 18-acre site at 4400 and 4450 W. Walnut Hill Lane, the three-building asset features a total of 84 dock-high and six grade-level loading doors, as well as more than 300 parking spaces. According to Yardi Matrix data, Bradford delivered DFW East Logistics Center last year with the help of a $12.5 million construction loan provided by Southwest Bank.
Tenants include Universal Health Services and Bisco Industries. The facilities are situated in the vicinity of President George Bush Turnpike and about six miles from DFW International Airport and Interstate 635. The new owner selected Bob Hagewood and Jeremy Kelly of Stream Realty Partners to lead leasing duties.
“DFW East Logistics Center is a high-quality asset in a strategic location, and with 220,000 square feet available, we can accommodate requirements for 15,000 to 160,000 square feet of contiguous Class A shallow bay distribution space,” Hines Director Connor Tamlyn said in prepared remarks.
CBRE Senior Vice President Jonathan Bryan and Executive Vice President Randy Baird negotiated the deal on behalf of the seller. Earlier this year, Bryan and Baird also brokered the $52.1 million acquisition of Enterprise Industrial Park in San Antonio.
Image courtesy of Hines