19-building industrial portfolio sells in Dallas-Fort Worth area
JLL Capital Markets closed the sale of the shallow-bay assets in infill industrial submarkets
DALLAS, July 7, 2022 – JLL Capital Markets announced today that it has closed the sale of a 19-building portfolio comprising 764,156 square feet of infill shallow-bay industrial space in the Dallas-Fort Worth area.
JLL marketed the property on behalf of the seller, MoxieBridge. Arden Logistics Parks, (ALP) a best-in-class logistics real estate operating platform, acquired the asset on behalf of Arden Group and Arcapita.
The portfolio caters to a wide range of light industrial and big box users with suite sizes ranging from 4,600 to 75,000 square feet, clear heights ranging from 16 to 32 feet and 21% office finish. The portfolio’s 19 buildings are 96% leased to 29 diverse tenants with an average remaining lease term of 4.3 years.
The portfolio comprises:
- 5301-15232 Midway in Addison
- 1705 John Connally in Carrollton
- 3325-2442 Halifax in Dallas
- 712-740 West Mockingbird in Dallas
- 3138 Quebec in Dallas
- 4700 Alpha in Dallas
- 12400 Ford in Farmers Branch
- 3609 Marquis in Garland
- 902-910 Fountain in Grand Prairie
- 2120 Vanco in Irving
- 3301-3401 Innovative in Mesquite
- 555 S. Town East in Mesquite
- 206 S. Town East in Mesquite
- 545 Commerce in Southlake
These properties are widely dispersed across seven infill, established industrial submarkets, providing geographic diversification and proximity to significant demand travers and the area’s major transportation arteries. Additionally, the buildings can draw from a highly skilled labor pool, with the area leading the nation in both population and job growth over the last decade.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Stephen Bailey, Dustin Volz, Dom Espinosa, Wells Waller, Pauli Kerr and Cole Sutter.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
MoxieBridge invests primarily through the acquisition of industrial real estate assets. Their disciplined and efficient process of sourcing, evaluating and operating each investment both improves the underlying asset and creates value for investors
About Arden Logistics Parks
Established by Arden Group in 2021 as a best-in-class logistics real estate operating platform, Arden Logistics Parks specializes in the acquisition, improvement and property management of light industrial business parks. The real estate investment business owns a geographically diverse, nearly 10 million square foot portfolio of last mile facilities in highly sought-after urban infill locations. For more information, please visit ardenlogisticsparks.com.
About Arden Group
Arden Group is a privately held, vertically integrated real estate company and fund manager focused on acquiring, developing, and managing high-quality real estate assets in the top 25 US MSAs and dynamic growth markets. Founded in 1989, Arden has acquired $7 billion of properties, asset managed $12 billion of commercial real estate assets and manages in excess of $2 billion in equity capital. Arden Group is headquartered in Philadelphia, with 10 offices including New York, Boston, Tampa, Miami, Dallas, and Newport Beach. Arden Group has been consistently ranked globally as a top performing Private Real Estate Fund Manager including Preqin’s #1 global ranking in 2017, 2018 and 2019. For more information, visit ardengroup.com.