December 1, 2020
JLL Capital Markets closed the sale of and arranged acquisition financing for an eight-property shallow bay industrial portfolio totaling 606,889 square feet within infill markets in the Dallas-Fort Worth Metroplex area. The team of Stephen Bailey, Dustin Volz, Zane Marcell, Wesley Gilmer and Erin Lazarus worked on behalf of the seller, Fort Capital.
Birtcher Anderson, in a joint venture with Belay Investment Group, purchased the portfolio. Additionally, JLL’s Cullen Aderhold worked on behalf of the new owner to place the five-year, floating-rate acquisition loan.
The 95%-leased multi-tenant portfolio includes Manana Business Park at 2526 Manana Dr. in Dallas; Garden Brook Industrial in Farmers Branch; 4101 Lindberg in Addison; Luke Business Park in Irving; Hickory Business Park in Haltom City; and 1115 and 1101 NE 23rd St. and Suffolk Industrial Park in Fort Worth. All these properties are in premier infill locations in established industrial submarkets near major transportation arteries.
For comments, questions or concerns, please contact Paul Bubny