Transwestern Investment Group Acquires Fort Worth Industrial Property
- Feb 12, 2019
Transwestern Investment Group has acquired an industrial property in north Fort Worth, Texas, on behalf of one of its separately managed accounts. The asset was purchased from DHL Supply Chain.
The 1.2 million-square-foot property comprises two cross-dock buildings, a 705,955-square-foot asset located at 1753 Chaplin Drive and a 494,041-square-foot asset located at 15453 Wolff Crossing. Developed in December 2018, each building includes 36-foot clear heights and is situated in close proximity to major thoroughfares including Interstate 35 West, U.S. Route 287 via Texas State Highway 114, and the Dallas/Fort Worth International Airport.
“The acquisition met our real estate investment criteria because the assets are functional distribution warehouses and are well-located near AllianceTexas, the BNSF Alliance Intermodal, Fort Worth Alliance Airport, and the intersection of I-35W and TX-114,” Wes Davidson, vice president, Transwestern Investment Group, told Commercial Property Executive.
The property is within the Alliance submarket, which currently has 2 million square feet of industrial space under construction. It is also home to a master-planned, mixed-use development created by Hillwood. The project is anchored by Alliance Global Logistics Hub, which includes BNSF Railway and Union Pacific’s Alliance Intermodal Facility. The submarket has grown significantly over the last quarter and now comprises more than 43 million square feet of developed space, home to more than 470 companies and 47,500 employees.
“This acquisition provides us the opportunity to take advantage of the current market dynamics of North Fort Worth and the Alliance submarket as it continues to show growth and remains one of the top industrial submarkets in the DFW metro,” said Greg Laczkowski, managing director, Transwestern Investment Group, in a prepared statement. “Additionally, this investment has initiated a relationship with DHL that may unearth future opportunities within its sophisticated logistics network.”
JLL’s Senior Vice President of Industrial Investment Sales Dustin Volz represented DHL in the transaction. CBRE’s Executive Vice President of Advisory & Transaction Services Nathan Lawrence is handling leasing for the property.
Transwestern has had a busy start to 2019. Earlier this month, the company hired Robert Vicci as senior vice president, based out of its Florham Park, N.J. office.
Image courtesy of Transwestern