A newly built logistics center was recently sold in one of the Dallas/Fort Worth region’s largest suburbs, as the industrial market in North Texas keeps growing.
California-based AC Industrial Properties purchased the 302,000-square-foot Logistics Center at McKinney Building B, a new Class A industrial building in the Dallas suburb of McKinney, according to a media release from JLL Capital Markets, which represented the seller, a joint venture between Thor Equities Group and Morgan Stanley.
This is one of many big logistics deals that have occurred in the North Texas market in the past few months. Property Reserve, for instance, recently purchased a much larger, 1 million square foot logistics center in the Southern Dallas submarket.
This purchase by AC is the latest in a series of transactions in the DFW market, which now sits at risk of oversupply. The market does not seem to be slowing, as rents steadily rise but remain relatively low.
The Logistics Center at McKinney Building B sits on just under 17 acres at 350 Cypress Hill Drive, with direct access to the main hubs of Dallas-Fort Worth and in close proximity to the McKinney National Airport.
It includes a rear-load building with 32-foot clear heights, a 130-foot truck court, 52 overhead doors, two drive-in doors and 190 parking spaces.
It also benefits from its position in the Northeast Dallas industrial submarket, which accounts for approximately 20 percent of the region’s total inventory, according to the media release.
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