New Mountain Buys Dallas-Area Industrial Asset
- Nov 07, 2017
New Mountain Capital acquired a 422,819-square-foot industrial facility in Denton, Texas, from Mohr Capital. At the time of sale, the asset was fully occupied by ESAB Group, a subsidiary of Colfax Corp. According to Yardi Matrix data, the deal was subject to a $22.6 million loan from KeyBank. HFF’s Adam Herrin negotiated the transaction on behalf of the seller.
Located at 2800 Airport Road, the facility sits less than a mile from interstates 35W and 35E and about two miles from Denton Enterprise Airport. The property sits on 30 acres and houses more than 500 employees consolidated from other locations.
“The ESAB project was a collaboration between developer, tenant, general contractor, the City of Denton and the various vendors working on the project,” Mohr Capital CIO Gary Horn said in a prepared statement.
Earlier this year, Mohr negotiated a 43,000-square-foot lease at Hidden Grove, a 239,000-square-foot Dallas office building, on behalf of BenefitMall, a provider of employee benefits, HR and payroll products and services.
Image courtesy of Mohr Capital