JLL closes sale of Dallas Class A industrial park
Black Creek Group purchased the fully leased, state-of-the-art project
DALLAS, May 27, 2020 – JLL Capital Markets announced today that it has closed the sale of Valwood Crossroads, a brand new, Class A, state-of-the-art, fully leased, two-building industrial park totaling 618,052 square feet in the Dallas-Fort Worth community of Carrollton, Texas.
JLL marketed the property on behalf of the seller, Core5 Industrial Partners, which developed the property in 2019. Denver-based Black Creek Group purchased the asset.
Valwood Crossroads features both cross-dock and rear-load buildings, clear heights ranging from 32 to 36 feet, 138 dock-high doors, six drive-in doors, deep truck courts, ESFR sprinkler systems and low office finish. Both buildings are fully leased to Smith System Manufacturing Company, a Texas-based furniture manufacturer that serves the K-12 school furniture market across the country. Situated on 34.26 acres at 1050 and 1150 Luna Rd., Valwood Crossroads is positioned at the northeast intersection
of Belt Line Road and President George Bush Turnpike, which is a coveted last-mile location within the Valwood Industrial submarket, one of the tightest industrial submarkets in the DFW region.
The JLL Capital Markets team representing the developer was led by Director Stephen Bailey and Managing Director Dustin Volz.
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 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.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
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 $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Core5 Industrial Partners
Core5 Industrial Partners is a full-service real estate property company with expertise in development and acquisition of Class A inventory and build-to-suit industrial facilities. Visit c5ip.com for more information.
About Black Creek Group
Black Creek Group is a leading real estate investment management firm that has bought or built over $21 billion of investments throughout its more than 25‐year history. The firm manages diverse investment offerings across the spectrum of commercial real estate – including office, industrial, retail and multifamily – providing a range of investment solutions for both institutional and wealth management channels. Black Creek Group has seven offices across the United States with approximately 300 professionals. More information is available at blackcreekgroup.com.