Considered one of North Texas’ largest and most profitable industrial parks has been bought by a world property investor.
BentallGreenOak and Institutional Logistics Companions have bought the 1.4 million square-foot Gateway Logistics Heart at DFW Worldwide Airport.
The five-building enterprise park at Airport Freeway and Valley View Lane was constructed by Dallas-based Bandera Ventures.
The high-profile industrial campus is nearly totally leased to companies together with Heritage Auctions, Samsung, Hi there Contemporary, Legendzways Distribution and Hussmann Corp
The massive workplace, distribution and warehouse complicated was accomplished in 2019 and rapidly started leasing up.
Business property agency JLL just a few months in the past started advertising and marketing the property to consumers.
BentallGreenOak is a significant funding advisor representing greater than 750 purchasers. It operates greater than $50 billion of workplace, logistics, multifamily residential and retail properties worldwide.
BentallGreenOak operates from workplaces in New York, Toronto, London and Tokyo.
It manages Institutional Logistics Companions, which is funded by buyers together with the California Public Workers Retirement System. Final yr CalPERS dedicated one other $400 million to the commercial property enterprise.
JLL’s Dustin Volz, Stephen Bailey, Jody Thornton, Zach Reibe, Wells Waller and John Rose dealt with the property sale to BentallGreenOak.
Gateway Logistics Heart is without doubt one of the largest industrial properties in North Texas to vary arms in 2020.
With the pandemic, demand for distribution facilities has grown resulting in an uptick in Dallas-Fort Value warehouse constructing and funding.