Jun 6, 2016
Boom town, industrial sales in Fort Worth
FORT WORTH - Absorption rates for industrial properties in the area have increased since 2009 and during the last 12 months, there has been a 33 percent uptick in investment sales,...
FORT WORTH – Absorption rates for industrial properties in the area have increased since 2009 and during the last 12 months, there has been a 33 percent uptick in investment sales, says JLL.
Strong population increases, job growth, residential development, and a pro-business climate continue to drive the market’s industrial sector.
Properties with large footprints, fully leased to credit tenants are the norm, leading to a substantial increase in investment sales throughout the DFW metro.
Two such examples are typified in the recent $70 million sale of a group of industrial buildings.
- Scannel Properties’ Railhead is a 229,840-sf industrial asset purchased by Western Devcon.
- Railhead is a newly constructed Class A industrial asset that is 100 percent occupied by two tenants and includes 60-foot staging bays, 125-foot truck courts and 30-foot clear height.
- Bay Grove’s Lineage Fort Worth transaction consisted of a three-property portfolio totaling 970,000 sf purchased by TA Realty.
- The Lineage Logistics Fort Worth portfolio includes buildings that are located at 6440 Oak Grove, 6401 and 6445 Will Rogers Blvd. All three buildings are 100 percent leased. The site also includes a 4.5-acre lot with the potential for expansion.
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