New industrial park in DFW’s AllianceTexas master-planned project sells
JLL Capital Markets closed the sale of three-building, fully leased facility to Clarion Partners
DALLAS, April 25, 2022 – JLL Capital Markets announced today that it has closed the sale of Intermodal Commerce Park, a new, fully leased, state-of-the-art industrial park comprising three buildings that house 1.4 million square feet within the highly sought-after AllianceTexas master-planned project in the Dallas-Fort Worth MSA.
JLL marketed the property on behalf of the seller, a partnership between Gruene Real Estate Partners, Weber & Company and the industrial team of Crow Holdings Development. Clarion Partners acquired the asset. Additionally, JLL arranged the leasing of the project on behalf of the seller.
Completed in the fourth quarter of 2021, Intermodal Commerce Park is home to H-E-B, Volkswagen, Prairie Industries and ANEW Business Solutions. The modern buildings provide clear heights ranging from 36 to 40 feet, deep truck courts, 266 dock-high doors, 10 ramp doors, 325 trailer parking stalls, ESFR fire protection and 641 car parking spaces.
Located in Haslet at 206, 230, 280 S Intermodal Pkwy., Intermodal Commerce Park is at the doorstep to the BNSF Intermodal entrance north of Fort Worth and will have direct access to the new Haslet Parkway Project, which will extend Haslet Parkway on the southern portion of the site and connect I-35W and SH170 via an expanded, four-lane highway. Given the proximity to BNSF and AllianceTexas’ connectivity to major air and ground transportation throughfares, this new project will be a prime logistical location for the foreseeable future and will allow tenants to reach any major Texas or regional market.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Dustin Volz, Stephen Bailey, Dom Espinosa, Wells Waller and Jack Copher.
The JLL Leasing team responsible for leasing the project consisted of George Curry, Jamie Galati, Blake Rogers and Madison Hornisher.
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 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Gruene Real Estate Partners
Ken Kristofek founded Gruene Real Estate Partners after leaving the corporate world with over 30 years of corporate real estate development experience. During his career, Ken has developed and been responsible for over 5 million square feet and 1,000's of acres of development in multiple product types. His development experience includes industrial warehouse, industrial warehouse parks, tilt-wall office, mid-rise office, retail, multi-family and large mixed-use land projects.
About Weber & Company
Texas-based shopping center developer, Weber & Company maintained a niche for developing large national anchor credit shopping centers consisting of 30 to 70 acres of land and 300,000 to 600,000 square feet of GLA of shopping center tenants. Mr. Weber has been actively involved in the shopping center development industry since 1969, and Weber & Company, incorporated in October 1990, has developed an extensive list of credit-anchored shopping centers with Target, Kmart, Walmart, Kohl’s, Home Depot, Lowe’s, At Home, Albertsons, Kroger and Aldi. Since 1990, Weber & Company has developed 36 shopping centers containing over 11 million square feet of GLA.
About Clarion Partners, LLC
Clarion Partners LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 39 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With over $71 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to nearly 500 domestic and international institutional investors. More information about the firm is available at clarionpartners.com.