Fort Worth-based real estate investment firm Fort Capital has expanded its industrial property portfolio with the acquisition of 4040 Forest Lane, a 603,795 square foot building in Garland.
Fort Capital’s industrial division was established in Q2 2017 with an aggressive goal to own and operate 2 million square feet of industrial space by Q3 2019. With the addition of 4040 Forest Lane to their portfolio, Fort Capital has already reached 1.134 million square feet of that goal. Fort Capital is on track to far surpass their initial goal, and currently has 250,000 square feet under contract to close in Q3 2018.
“This acquisition marks a big day for Fort Capital—it shows our commitment to establishing a best-in-class industrial platform. We are very focused on the B class industrial market and believe DFW and Texas provide the right markets for the assets to flourish for many years to come,” said Sarah LanCarte, managing director of Industrial at Fort Capital.
“We are committed to building a strong industrial portfolio across DFW and other key Texas markets. While 2M square feet is our initial goal, we feel like we can have a larger impact over the next decade,” said Chris Powers, CEO and founder of Fort Capital.