News release

Lake Washington Partners acquires industrial property in Dallas

JLL Capital Markets closed the sale of Tradepoint 20/45, a 418,000 SF distribution center

January 05, 2023

Kristen Murphy

Investor PR, Capital Markets, Hotels, Property Management, Valuation Advisory, Agency Leasing
+1 617 848 1572

DALLAS, Jan. 05, 2023 – JLL Capital Markets announced today that it has closed the sale of Tradepoint 20/45, a newly completed 418,000-square-foot industrial building in Dallas, Texas.

JLL represented the buyer, Lake Washington Partners, in the sale from Blumenfeld Development Group and Declaration Partners.

Tradepoint 20/45, which was completed in early 2022, offers 36’ clear heights, 60’ deep staging bays, 78 dock doors, two ramps, 124 parking spaces and 107 trailed parks.

Located at 4831 Cleveland Road Tradepoint 20/45 is positioned 13 miles from downtown Dallas, 18 miles from Dallas Love Field Airport and 33 miles from Dallas/Fort Worth International Airport. Furthermore, the property has easy access to the Texas Triangle, the area between Dallas-Fort Worth, Houston and San Antonio/Austin. This allows future tenants to reach 25 million residents within a five-hour drive.

The JLL Capital Markets Investment Sales Advisory team representing the buyer was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Executive Managing Director Adam Citron, and Directors Dom Espinosa and Zach Riebe.

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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About JLL

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 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Lake Washington Partners

Lake Washington Partners is a Seattle-based, family-owned commercial real estate investor and developer, focused on office and industrial properties across the United States. LKWP is an institutional buyer acquiring industrial assets in the Dallas and East Coast markets. Founded in 2006, LKWP specializes in long-term investment through acquisitions and development projects across nine states. It is a long-term investor in its properties, its tenants, and in the communities it serves. For more information about Lake Washington Partners, please visit the company’s website at www.lkwp.com.

About Declaration Partners

Declaration Partners is a private investment firm that seeks to be a value-added capital partner and strategic resource to management teams and asset owners where patient, flexible capital provides an advantage. Declaration has approximately $2.5 billion in assets under management across its investment strategies, which include real estate, growth equity, platform company investments, fund seeding, and other opportunistic strategies. Anchored by the family office of private equity veteran and philanthropist David M. Rubenstein, Declaration invests on behalf of family offices and like-minded institutional investors. The firm was founded in 2017 and is headquartered in New York with an office in the Washington, DC area.

About Blumenfeld Development Group

Blumenfeld Development Group, Ltd. (“BDG”) is a full-service real estate development firm with a development portfolio that features regionally significant projects, entertainment-based retail, multi-tenant office, medical office, industrial and multifamily-residential. BDG’s fully integrated team allows for seamless packaging of all services, including those related to leasing, acquisitions, property management, construction, permits and approvals, architectural and engineering design, and user operational planning. This holistic approach toward real estate has enabled BDG to prosper over its four-decade history. BDG brings a client-centred approach to every project. This fundamental tenet, when combined with a highly specialized team of real estate professionals, produces unparalleled levels of service. Over one hundred fifty years of combined experience in acquisitions has endowed the firm with an extraordinary sense of value.  BDG employs over fifty people in three New York offices and controls approximately four million square feet of real estate.