Last-mile industrial portfolio near Dallas trades to Arden Group
JLL Capital Markets closed the sale of a 12-building shallow bay portfolio in Arlington, Texas
DALLAS, July 8, 2021 – JLL Capital Markets announced today that it has closed the sale of a 12-building, last-mile, shallow bay industrial portfolio totaling 582,803 square feet in the Dallas-area community of Arlington, Texas.
The portfolio is 77 percent leased to 20 diverse tenants and was completed between 1961 and 1970. The building features include clear heights ranging from 13 to 24 feet, 26 percent office finish and ample parking.
Situated on a total of 28.75 acres within the high barrier-to-entry Great Southwest/Arlington Industrial submarket, the portfolio comprises the nine buildings in the 109th St. Business Park (605, 611, 615, 625, 701, 709-719, 723-727, 731-745, 759-765 and 2915 E. Randol Mill Rd.); 2821 E. Randol Mill Rd.; 3016-3030 Avenue E. and 1170-1180 109th St.
Each property has excellent access to a robust network of major transportation arteries, including Interstate 30 and SH 360, and proximity to many of Dallas’s largest residential and commercial hubs. This allows a tenant to easily reach a Dallas-Fort Worth population of more than seven million residents, which is projected to grow an additional 20 percent by 2030.
The JLL Industrial Capital Markets team that represented the seller was led by Managing Director Stephen Bailey, Senior Managing Director Dustin Volz, Director Dom Espinosa and Analysts Wesley Gilmer and Pauli Kerr.
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.
For more news, videos and research resources on JLL, please visit our 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 $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Fort Capital
Fort Capital is a privately-owned real estate investment firm with a track record of acquiring more than $584 million in assets throughout Texas. Named the fastest-growing real estate company in Texas in 2020 by Inc., Fort Capital’s mission is to acquire prime real estate, operate with excellence, and deliver exceptional returns to all stakeholders. For more information, visit FortCapitalLP.com.
About Arden Group
Arden Group is a vertically integrated real estate investment management firm focused on equity and debt investments in the top 25 US MSA’s. Founded in 1989, Arden has acquired approximately $6 billion of properties and asset managed in excess of $11 billion of commercial real estate assets. In 2012, Arden Group established Arden Fund Management, its real estate equity and debt fund management business with offices in Philadelphia, New York, Tampa, Miami, Minneapolis and Newport Beach. Arden Group has been consistently ranked globally as a top performing private fund manager by both Cambridge Associates and Preqin, including Preqin’s No. 1 global ranking in 2017, 2018 and 2019. Visit ardengroup.com.