February 8, 2017
AFL-CIO Building Investment Trust acquired the 667,635-square-foot Logistics Crossing I, located in Grand Prairie, TX. The industrial facility, at 2305 W. Marshall Dr., is 100% leased to General Motors Corp., which has eight years of remaining lease term.
Robinson Weeks Partners, represented by CBRE, sold the property for an undisclosed price; the Tarrant Appraisal District assesses the asset at $23 million.
Weeks Partners, headquartered in Atlanta, GA, constructed the facility as a General Motors build-to-suit. The building delivered with a 497-foot rail spur, a cross-deck configuration and 32-foot clear heights. “This transaction represents the continued trend of institutional equity seeking trophy quality assets in prime locations throughout the greater Dallas-Fort Worth Metroplex,” said Jack Fraker, Vice Chairman and Managing Director of CBRE’s Capital Markets Industrial Practice.
For comments, questions or concerns, please contact Amy Sorter
For advertising information, please contact Joni Margotta