Fort Capital announced Nov. 10 that it closed the sale of an 18-building light industrial portfolio totaling 606,889 square feet across the Dallas-Fort Worth market. Over the past three years, Fort Capital has established itself as an aggressive purchaser of Class B industrial assets with the ability to capitalize on market and capital improvements to unlock maximum value for investors.
“We continue to be focused on acquiring Class B multi-tenant, light industrial assets in core markets across Texas,” said Chris Powers, Founder & CEO. “Texas continues to be a hot spot for industrial as proven by rental rates increasing even during a global pandemic. This asset class offers a robust tenant base across a variety of industries, and the demand continues to grow while the supply is shrinking making it an attractive investment.”
The portfolio includes a diverse range of tenants and was 95% occupied at the time of the sale. Each property is situated in an irreplaceable location with great access to the Dallas-Fort Worth Metroplex through a variety of thoroughfares including Interstate 35, Interstate 635, Interstate 20 and Interstate 30.
“Fort Capital has worked diligently over the past several years to buy well-located Class B industrial assets across Dallas-Fort Worth,” said Hunter Harrison, Vice President of Investments. “Our strategic purchases and aggressive Asset and Property Management approach is how we’ve found success in a very competitive industrial market. We are eager to continue acquiring and operating these institutional quality assets in strong infill markets with high barriers to entry.”