14 North Texas industrial buildings part of $1.5B deal

NORTH TEXAS – Liberty Property Trust has acquired a $1.5 billion industrial building portfolio including 14 North Texas buildings that total 1.9 million sf. The portfolio consists of

•  seven buildings in Plano,
•  two in Carrollton,
•  one in Coppell,
•  one in Fort Worth,
•  one in Garland,
•  one in Grand Prairie, and
•  one in Grapevine.

“These new properties provide diverse holdings across the DFW Airport and Plano-Northeast Dallas submarkets and allow us to provide our tenants nationwide with access to Dallas, the Southwest’s largest industrial market,” said Mike Heise, Liberty vice president.

The Pennsylvania-based investor purchased the operating partnership of Cabot Industrial Value Fund III, and subsequently acquired 23 million sf and 177 properties in 24 markets. The real estate investor already holds an industrial building portfolio in Houston totaling 6.5 million sf.