A fund sponsored by CBRE Investment Management – formerly known as CBRE Global Investors – has acquired a 952,764-square-foot logistics park located outside of Fort Worth. Known as 820 Exchange, the property consists of four newly constructed Class A logistics assets that are currently 72% leased to three tenants.
This investment is consistent with the firm’s recent creation of a globally aligned sector-specific logistics team and commitment to scale logistics efforts. Other recent acquisitions as part of this focus include a development site in Tracy, Calif., to build a state-of-the-art logistics center in partnership with Trammell Crow Company, and a portfolio of logistics assets in Atlanta, Baltimore, and Chicago via a joint venture with Duke Realty Corporation.
The buildings that make up 820 Exchange, which is situated in Haltom City, are:
- Building 1, located at 4251 Northern Cross Boulevard, spans 427,908 square feet and includes 36’ clear height and a cross-dock configuration. The asset is 100% leased.
- Building 2, located at 5030 Anderson Boulevard, spans 138,600 square feet and features a single-load docking layout, 30’ clear height, a shared central truck court, and ample trailer and vehicular parking suitable for single or multi-tenant occupancy. The asset is partially leased by a single user with availability for additional users.
- Building 3, located at 5020 Anderson Boulevard, spans 158,400 square feet and features a single-load docking layout, 30’ clear height, a shared central truck court, and ample trailer and vehicular parking suitable for single or multi-tenant occupancy. The asset is vacant and available for lease.
- Building 4, located at 4250 Northern Cross Boulevard, spans 227,856 square feet and features 32’ clear height and a rear-load layout. The asset is 100% leased.
“820 Exchange features state-of-the-art logistics construction, amenities and characteristics, along with a highly functional design that today’s modern logistics users have come to expect when looking to expand their industrial footprint in key markets,” said Mary Lang, Head of Americas Direct Logistics Strategies and Portfolio Manager for CBRE Investment Management. “This particular asset is one of the newest developments in a land-constrained submarket; the premier in-fill location offers interstate frontage and immediate access to major consumer and labor populations in the surrounding area.”
LGE Design Build broke ground on the 820 Exchange project in December 2019.
The project marked the Phoenix-based design builder’s entry into the Texas market.