January 6, 2020
Weeks after selling an 18.1-million-square-foot national industrial portfolio to DRA Advisors LLC, Sealy & Co. acquired 1.6 million square feet of infill industrial space in the Dallas-Fort Worth area. The buyer snagged the 97%-occupied portfolio from Rialto Capital Management and Wafra Inc.
Jonathan Bryan, Randy Baird, Ryan Thornton and Eliza Bachhuber with CBRE represented the seller. The portfolio consists of:
- 10990 Petal Street; Perimeter Distribution Center; Jupiter West A&B and Forest Lane (Northeast Dallas)
- 2115 Valley View (Northwest Dallas)
- 2727 Airport (South Stemmons, Dallas)
- Riverside Business Center (Great Southwest/Arlington)
- Executive Center 1-7 and 3700 Eagle Place (South Dallas)
All of the assets are less than 3.4 miles from their respective submarkets’ critical transportation arteries. Furthermore, “the limited supply of new developments in these locations and the corresponding rental rate growth potential is attractive to investors looking for cash-flow durability combined with income growth,” said CBRE’s Bryan.
Pictured: 10990 Petal St., Dallas.
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