Philadelphia investor acquires light industrial park in Dallas
JLL Capital Markets closed the sale of the three-building light industrial park to Arden Group
DALLAS, May 27, 2021 – JLL Capital Markets announced today that it has closed the sale of Stoneridge Business Park, a three-building light industrial park totaling 171,025 square feet in Dallas, Texas.
JLL marketed the property on behalf of the seller, MoxieBridge. Arden Group acquired the asset.
Stoneridge Business Park comprises the buildings at 2550 Beckleymeade Ave., and 9050 and 9110 Autobahn Dr. within the thriving, infill South Dallas Industrial submarket. The park is located just off of Interstate 20 with immediate access to Interstate 35E, State Highway 67 and Interstate 45, providing direct connectivity to the metro’s primary transportation arteries and excellent access to a large highly skilled labor pool.
Constructed in 1987, Stoneridge Business Park features clear heights ranging from 18 to 20 feet, 24 dock-high doors, seven drive-in doors, 58% office finish and ample parking. The park is 83.3% leased to 15 tenants.
The JLL Industrial Capital Markets team that represented the seller was led by Managing Director Stephen Bailey, Senior Managing Director Dustin Volz, Associate Adam Roossien and Analyst 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.
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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 $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 MoxieBridge
MoxieBridge invests primarily through the acquisition of industrial and other commercial real estate assets. The company’s disciplined and efficient process of sourcing, evaluating and executing each investment both drives investor returns and creates better places for the communities it serves.
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 receiving Preqin’s No. 1 global ranking in 2017, 2018 and 2019. Visit ardengroup.com.