A Missouri investor just picked up one of the largest distribution centers at the Dallas-Fort Worth International Airport.
Two Dallas-based investment firms, Invesco Real Estate and Perot Development Company, have closed the sale of the 219,000-square-foot, fully leased Class A distribution center, DFW Park 161 AMZL, which was purchased by St. Louis-based ElmTree Funds.
The buyer could not be reached for comment, but ElmTree has a history of acquisitions in the commercial real estate net-lease sector, and according to its website had already made over $800 million worth of acquisitions in the first quarter of this year alone.
The property was completed in early 2022 and was built-to-suit tenant Amazon as a last-mile distribution center, which includes office space, 18 drive-in doors, 27 trailer parking spots, and 1,440 parking spaces on the 5-acre grounds.
The transaction was brokered by JLL Capital Markets, which is known for both purchasing and brokering commercial real estate across the nation, including in the Dallas market.
Situated on nearly 56 acres of airport land at 3100 State Highway 161, the master-planned DFW Park 161 AMZL is just east of Dallas-Fort Worth International Airport. The DFW Airport Industrial submarket is one of the most sought-after in the region, and ElmTree is far from the only investor looking to take advantage of the space and access it provides.
Back in June, Houston-based Archway Properties announced an over 10-acre industrial park development on Royal 114 near the Dallas-Fort Worth International Airport on State Highway 114 and West Royal Lane, which will cover 429,027 square feet and will have four buildings ranging from 6,261 square feet to 155,050 square feet.
State Highway 161, one of the area’s main north and south transportation corridors and carries more than 123,000 vehicles per day, according to the release announcing the sale. The property has connectivity to the Texas Triangle — the region between DFW, Houston, San Antonio, and Austin that’s home to 25 million residents — and provides ease of access to the DFW metro area.
The Texas Triangle is expected to grow to account for at least 78 percent of the state’s population within the next 40 years, a population that is continuing to go up by the day and absorb a steady stream of out-of-state arrivals
With some $1.32 trillion in economic output, the Texas Triangle already ranks among the world’s 15 largest economies.
Read more
Commercial
Texas
Top Texas building market adds $16M business park
Commercial
Dallas
Far North Dallas leads DFW office recovery