December 7, 2016
Double Run LP, based in La Habra Heights, CA, acquired a 67,704-square-foot FedEx Ground distribution facility in Abilene, TX. The buyer paid the developer (and seller – Devron Abilene LLC ) $7.5 million for the facility at 801 N. Arnold Blvd.
Allen Buchanan and Joshua Harper with Lee & Associates’ Orange County, CA office represented the buyer. Douglas Longyear of Cushman & Wakefield advised the seller. FedEx has a long-term lease in place, with expiration in 2025. The building delivered in 2012, and was expanded in 2015.
“Our client was an investor, who purchased the Texas building to affect a tax-deferred exchange,” said Buchanan. “Cash flow, ease of management and the multiyear lease had appeal to the buyer.”
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