Oakdale Logistics Center, a 401,577-square-foot warehouse and distribution building in Grand Prairie, is under construction after CT and its affiliate Port Logistics Realty acquired the underlying 24-acre parcel in 2017.
Oakdale Logistics Center will be a state-of-the-art cross dock distribution facility with a 32-foot clear height, 520 feet of building depth and loading capacity that includes 75 dock-high doors and four grade-level doors, accessible via 185-foot deep truck courts.
The project is in the Great Southwest industrial submarket, south of Dallas Fort Worth International Airport and served by Interstate 30.
“We are excited to have found such an ideal site for the development of this Class A distribution facility in the absolute heart of the Metroplex, where land availability has become so scarce,” said Rob Huthnance, president of Port Logistics Realty (PLR). “The Great Southwest submarket has long been in high demand and experienced net absorption of 4 million square feet in 2017.”
The project is the third DFW area development between CT, based in Newport Beach, California, and PLR, based in Dallas. The companies completed an industrial building in Grand Prairie in 2017 and are in development with venture partner Diamond Realty Investments, a wholly owned subsidiary of Mitsubishi Corp., on the 9 million-square-foot Southport Logistics Park in Wilmer, just south of Dallas.
“The primary focus of CT’s growth strategy is to develop, own and manage a portfolio of logistics projects in high demand Tier 1 markets nationwide,” said James “Watty” Watson, managing partner with CT.
CT most recently announced the development of 1.34 million square feet of large-scale distribution buildings at Interchange 55 Logistics Park in the greater Chicago area. It is also in development on major logistics centers in Northern California, Atlanta, Georgia, and New Jersey. The company’s current land holdings support the development of as much as 15 million square feet of industrial buildings over the next five to seven years, and CT is actively seeking more land in 2018 for further expansion.
SALES
Idea Public Schools purchased 20 acres at 1900 Altamesa Blvd. in Fort Worth from Hillcrest LLC. Transwestern’s Lester Day represented the seller in the transaction. Will Northern and Lorraine Miller of Northern Realty Group represented the buyer.
Alliance-156 Partners LP sold 5.5 acres at the intersection of State Highway 114 and FM 156 in Fort Worth to Ed Kit. Transwestern’s Lester Day and Ben McBroom negotiated the sale on behalf of the seller.
Edward Hodge sold a 10,470-square-foot industrial property at 1015 E. Belknap St. in Fort Worth to Eddie Stephens Todd Hawpe of Transwestern negotiated the transaction.
LEASES
PCI Logistics Inc. has renewed 12,914 square feet of industrial space in Las Colinas Distribution Center 5, 3421 Story Road in Irving. Brian Pafford and Jason Finch of Bradford Commercial Real Estate Services represented the landlord, Las Colinas AAA Investment LLC. John Brewer of Transwestern represented the tenant.
Trinity Fastener Co. Inc. has leased 10,000 square feet of light distribution space at 3428 Dalworth St. in Arlington from Tarrant County Properties LLC. Brian Pafford of Bradford Commercial Real Estate Services represented the tenant. Matt Thompson and Phillip Rosenfeld of DFW Lee & Associates LLC represented the landlord.
Jackson Supply Co. signed a new lease for 20,651 square feet of industrial space at 6450 Midway Road in Haltom City. Transwestern’s Todd Hawpe represented the landlord, ACE Manor Property Management I Ltd., in the transaction. Jamie White of Jamie White Commercial Real Estate LLC represented the tenant.
Witherspoon Services Co. signed a new lease for 4,657 square feet of industrial space at Stadium Business Park, 4205 Stadium Drive in Fort Worth. Transwestern’s Jeff Givens represented the landlord, Tyler Hamilton LP, in the transaction.
Fort Worth Allergy & Asthma Associates signed a new lease for 4,260 square feet of office space at Frost Bank Building, 4200 S. Hulen St. in Fort Worth. Whit Kelly and Jason Harrell of Transwestern represented the landlord. Matt Montague of JLL represented the tenant.
Insurance Certificate Administrators signed a new lease for 3,323 square feet of office space at Frost Bank Building, 4200 S. Hulen St. in Fort Worth. Whit Kelly and Jason Harrell of Transwestern represented the landlord. Richard Minker of Colliers represented the tenant.
SMH Capital Advisers LLC signed a new lease for 2,497 square feet of office space at Frost Bank Building, 4200 S. Hulen St. in Fort Worth. Whit Kelly and Dallas Margeson of Transwestern represented the landlord.
Send real deals to Robert Francis at rfrancis@bizpress.net.