Blumenfeld Development Group, based on Long Island in New York State, has purchased the Tradepoint 20/45 warehouse building in southern Dallas, the Dallas Morning News reports.
Located on Cleveland Road south of Interstate 20, the newly built, nearly 418,000-square-foot distribution building is in a submarket called Hutchins, surrounded by big-name logistics and distribution centers. Nearby there are multiple Amazon warehouses, a Kroger fulfillment center and, of course, a Big Ass Truck Parts location.
Tradepoint 20/45 was a project of Dallas-based seller Champion Partners. The facility is BDG’s first Texas acquisition. The vast majority of its portfolio is located within New York State.
Champion is also building a warehouse in Wilmer in partnership with legacy Dallas investor Rosewood Properties. Construction of the 610,000-square-foot Tradepoint45 East facility is underway near Interstate 45. Stream Realty Partners, which recently started development on a 3.4-million-square-foot industrial campus in DFW, will be running the leasing for Tradepoint45 East.
The Dallas-Fort Worth metroplex is the country’s biggest industrial development market, with about 70 million square feet of space in the pipeline. Southern Dallas, in particular, is North Texas’ fastest-growing industrial building market with more than 10 million square feet under construction.
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