February 9, 2017
DRA Advisors LLC struck a deal with Cabot Properties Inc. to acquire a 19.8-million-square-foot portfolio for $1.08 billion. The industrial portfolio is geographically diversified across 21 markets in the United States, with a good chunk of the square footage in Dallas-Fort Worth and Houston.
With 24 buildings totaling 2.7 million square feet, Dallas-Fort Worth represented the largest concentration of assets in the portfolio, at 13.5%. The DFW properties range from 20,000 to 550,000 square feet, and are 96% leased. The assets include:
- The 550,000-square-foot 200 N. Northpointe Dr., Coppell, TX
- The 308,000-square-foot 301 S. Northpointe Dr., Coppell, TX
- The 125,000-square-foot 1401 Lakeway Dr., Lewisville, TX
Randy Baird, Jud Clements and Robby Reike, from Cushman & Wakefield’s Dallas office, helped represent the portfolio.
The Houston component totaled 1.7 million square feet, and included the 648,352-square-foot Willowbend Business Park on Willowbend Boulevard, and the 327,928-square-foot Kempwood Business Center on Kempwood Drive. Jim Foreman, with Cushman & Wakefield’s Houston office, led the team on the local component.
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