A. Lee Graham
Railhead Industrial Park in Fort Worth is one of three properties with warehouse facilities recently sold to the James Campbell Co., a Hawaii-based real estate development firm.
Announcing the transaction was Weeks Robinson Properties, an Atlanta-based real estate investment and development firm that acquired the Railhead facilities and those at two other area properties after entering the local market in 2011.
Since then, the facilities rose from between 35 percent and 50 percent occupied to their current level of 96 percent. The portfolio spans more than two million square feet and is currently leased to regional and national tenants.
The newly purchased properties are two buildings totaling 702,274 square feet at Railhead Industrial Park; a two-building, 505,000-square-foot project at Forum 303 Crossing in Arlington; and two buildings totaling 702,274 square feet at 4800 and 4900 Langdon Road-South Dallas.
“The current market condition in Dallas-Fort Worth provided an excellent time for us to bring these buildings to market,” said Forrest Robinson, CEO of Weeks Robinson, commenting in a news release.
“The strong interest in the local industrial market by institutional investors gave us an excellent opportunity to harvest strong returns for the investors in our fund,” Robinson said.
Representing James Campbell Co. in the transaction was Colony Realty Partners, with Eastdil Secured representing the seller.
Weeks Robinson is a real estate investment and development company focused on acquiring and developing institutional-quality industrial warehouse properties. Its target markets include Atlanta, Texas, and Florida. The firm’s current holdings total 3,018,746 square feet.
The James Campbell Company LLC oversees properties in Washington, D.C. and 16 states across the U.S.