The Riverbend West Distribution Center, a 301,500-square-foot, Class A, cross-dock industrial facility in Fort Worth has been sold after being marketed by Holliday Fenoglio Fowler, L.P. (HFF).
The HFF team marketed the property on behalf of the seller, Hunt Southwest Real Estate Development. Pure Industrial Real Estate Trust, one of the largest publicly-traded REITs in Canada, purchased the portfolio free and clear of existing debt.
Riverbend West was completed in 2016 with best-in-class construction and features 32-foot clear heights, 76 overhead dock doors and four drive-in doors in addition to LED warehouse lighting. The facility is 86 percent leased to Ecolab and PODS. Situated on 16.7 acres at 2101 Reeves Place and 2152 Riverbend West Drive, the facility is located in an infill location in the East Fort Worth industrial submarket. North and East Fort Worth have seen tremendous leasing activity and strong investor interest from large institutional owners across the globe.
The HFF investment advisory team included managing director Adam Herrin and director Stephen Bailey.
Hunt Southwest Real Estate Development is a Dallas-based, full-service real estate development company and is a joint venture between Hunt Midwest and Unity Hunt. It is the second real estate development enterprise founded by the Lamar Hunt family, following the success of Hunt Midwest, which was established in 1985.
Holliday GP Corp. (HFF) is a Texas licensed real estate broker.
www.fortworthbusiness.com/news/vancouver-trust-acquires-two-fort-worth-industrial-assets/article_614f9df2-e4d7-11e7-a13e-83db031967f3.html