Industrial acquisition demonstrates continued demand for DFW product
CanTex Capital and Imperium Capital acquired the former Trinity Industries’ site, with JLL Capital Markets arranging financing for the low coverage, infill property
DALLAS, March 16, 2021 – JLL Capital Markets announced today that it has arranged financing for CanTex Capital and Imperium Capital to acquire 4001 Irving Blvd., a 19.2-acre parcel housing approximately 135,000-square-feet of industrial buildings in one of the most robust industrial submarkets in the Dallas-Fort Worth metroplex.
Situated on 19.20 acres adjacent to the Dallas Design District, the low coverage industrial facility is in one of the most infill locations in the entire Dallas-Fort Worth Industrial market. 4001 Irving Blvd. is within the West Brookhollow Industrial submarket, which has unmatched accessibility to some of the largest economic drivers in the metroplex, including DFW International Airport, Dallas-Love Field Airport and Downtown Dallas. Additionally, the property is one of the only properties on Irving Boulevard with direct access to the Dallas, Garland and Northeastern Railroad via an on-site track parcel and raised loading platform.
“We are seeing high demand for large infill land sites across the Dallas-Fort Worth market,” said Romit Cheema, CEO of CanTex. “It is rare to find an industrial property of this size and proximity to Downtown Dallas. A site like this also offers long-term redevelopment potential.”
“4001 Irving is the first of many industrial acquisitions in Dallas for Imperium Capital,” added Sam Schneider, Managing Partner of Imperium. “We are very bullish on the entire DFW market and look forward to being very active there.”
In JLL Research’s Dallas-Fort Worth Industrial Insight - Q4 2020 report, the Dallas-Fort Worth (DFW) industrial market continued its run of record-setting growth through the end of 2020. Momentum in the current cycle has been sustained through the ongoing COVID-19 pandemic as the need for industrial space has increased. This demand is expected to continue in 2021. JLL forecasts that more than one billion square feet of additional warehouse product will be needed across the country to accommodate e-commerce demand.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 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 $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About CanTex Capital
CanTex Capital is a Dallas, Texas-based commercial real estate investment and development firm which currently owns, manages and operates 40+ infill light industrial buildings in the DFW area and has a long-term view on Texas and specifically the DFW Metroplex. Its combined 50+ years of commercial real estate experience spans different geographic markets, asset types and market cycles, giving CanTex a diverse and unique set of perspectives and outlook.
About Imperium Capital
Imperium Capital is a privately held New York City-based real estate investment and development company specializing in the acquisition of office, retail, multifamily and mixed-use properties in gateway markets throughout the United States. The firm was founded in 2010 by Sam Schneider and Daniel Glaser and currently owns a diverse portfolio of high-profile assets comprising more than 1.2 million square feet and in excess of $1.5 billion in total market value.