Big industrial complex in North Texas hits the market
Intermodal Commerce Park in Denton is among the area’s largest industrial properties
A 1.4 million square foot industrial park in North Texas, one of the largest such properties in the area, has hit the market.
JLL is marketing the sale of the three-building Intermodal Commerce Park, just north of the AllianceTexas development in Denton, the nation’s largest inland port, according to the Dallas Morning News. The 50-acre project at Intermodal Parkway and Westport Parkway in Haslet was built by Dallas’ Gruene Real Estate Partners and Weber & Co.
The project was funded through a private real estate fund advised by Crow Holdings Construction began in the summer of 2021.
The property is fully leased to tenants including Volkswagen, Prairie Industries and H-E-B, one of the region’s largest grocers. H-E-B, which is expanding in North Texas, leased one of the newer buildings with more than 670,000 square feet.
Dallas-Fort Worth was the nation’s top commercial property investment market last year, with almost $47 billion of sales. Industrial buildings and apartments made up the largest share of last year’s transactions.
[Dallas Morning News] – Maddy Sperling