Texas mega industrial deals of 2022
CenterPoint, Arden Logistics, Velocis and KKR Industrial made headlines this year
For the last #WarehouseWednesday of 2022, let’s take a look at a few of the mega industrial deals that went down in Texas this year.
Scout Cold Logistics buys 1M-sq-ft Dallas warehouse for $52 million
The nearly one million-square-foot distribution hub at 4450 Logistics Drive in the Southern Dallas submarket sold to Miami-based Scout Cold Logistics. Atlanta-based Core5 Industrial Partners recently finished construction on the project for about $52 million. It includes cold storage capabilities as well as a dry warehouse and office space. The primary tenant is Illinois-based KeHe Distributors, which provides products to grocers.
CenterPoint acquires 900,000-sq-ft Bison Grove Business Park
Illinois-based CenterPoint Properties bought up the entirety of the four-building, 900,000-square-foot Bison Grove Business Park in Lewisville, a Denton County suburb. The business park north of the DFW International Airport sits on about 62 acres. It was 78 percent leased at the time of purchase. Hilti Group leased about 485,000 square feet across two of the property’s four buildings, leaving 205,900.
Arden Logistics Parks nabs 19 industrial buildings across North Texas
Philadelphia-based Arden Logistics Parks purchased a 19-building North Texas industrial portfolio from Dallas-based MoxieBridge, for an undisclosed price, in July. The properties collectively total 764,000 square feet and are located in the eastern and northern suburbs of the Dallas-Fort Worth metro:Garland, Southlake, Irving, Carrollton, Addison, Farmers Branch and Mesquite.
Titan Development plans ‘megatech center’ near Samsung factory
Titan Development purchased all 188 acres of the Hutto Mega TechCenter, adjacent to a 450-acre industrial megasite drawn in by Samsung’s $17 billion semiconductor factory being built in Taylor. Titan’s plans include up to six light industrial buildings ranging from 200,000 to over 1 million square feet.
Velocis positions on the Texas Triangle
Dallas-based Velocis plans to build two massive warehouse complexes in Temple, located along Interstate 35 between Waco and Austin. The warehouses will cost about $53 million, or nearly $62 per square foot, comprising 855,000 square feet between the two facilities.
Cohen Asset Management scoops fully leased 700,000 sq ft
Los Angeles-based Cohen Asset Management added to its more than 7 million-square-foot Texas portfolio with the purchase of the 700,000-square-foot Sunridge II, at 1700 North Goode Road in Wilmer, from Scannell Properties in November. The property is 100 percent leased to a mystery tennant.
KKR Industrial invests in Texas
KKR plans to build 1.8 million square feet of industrial space across four American cities in 2023, starting with Dallas. The New York-based firm will start a 600,000-square-foot, three-building business park in North Fort Worth in 2023. The $42 million project will cost about $70 per square foot. The development is located southwest of the Alliance Airport.
Constellation partnership acquires 33 acres in Houston
Dallas-based Constellation Real Estate Partners acquired nearly 33 acres for its latest industrial project, with a fund by Crow Holdings Capital, dubbed Constellation Post Oak. The project, at South Post Oak Road and West Fuqua Street in southwest Houston, includes a two-building logistics center comprising 426,200 square feet total. Construction costs weren’t revealed. The project is scheduled to be completed in the second quarter of 2023. It is being marketed to tenants requiring anywhere from 60,900 square feet to 304,400 square feet, particularly those in the e-commerce industry aiming to reach the city’s exurbs.
Four Hands finds new home in Buda industrial site near Austin
Austin-based furniture company Four Hands signed leases totaling more than 360,000 square feet spread across two buildings at 1795 Firecracker Drive in Buda, near Austin. The site will serve as the company’s new headquarters, situated in the United Properties-owned Buda Midway industrial complex.
Lineage Logistics leases 315,000-square-foot cold storage in Houston
Michigan-based cold storage firm Lineage Logistics signed a long-term lease to occupy a 315,000-square-foot cold storage facility in Houston. The lease was signed before the building finished construction. The site sits on 23 acres at 7500 Uvdale Road and is co-owned by Houston-based Boomerang Interests and partner CenterSquare Investment Management. It completed construction in September.