Arden Logistics Parks acquires 19-building industrial portfolio in the Dallas/Ft. Worth Metroplex Market
Arden Logistics Parks (ALP), on behalf of Arden Group and Arcapita, has acquired the DFW Infill Portfolio, a 19-building industrial portfolio in the Dallas–Fort Worth (DFW) Metroplex market.
Totaling 764,156 square feet, the portfolio was sold by MoxieBridge, a private real estate firm based in Dallas, as part of a planned disposition strategy. The DFW Infill Portfolio consists of a rare assemblage of properties located within infill locations in several dense submarkets of DFW.
With an average vintage of 1982 (1965–2018 range), the portfolio is spread throughout 14 locations in the DFW market and is currently 96 percent leased to 29 tenants. Industrial properties within the portfolio feature average clear heights of 20’ (16’–32’ range).
The portfolio includes 545 Commerce in Southlake, 902–910 Fountain in Grand Prairie, 2120 Vanco in Irving, 12400 Ford in Farmers Branch, 1705 John Connally in Carrollton, 3325–3441 Halifax in Dallas, 15301–15323 Midway in Addison, 3609 Marquis in Garland and 3301–3401 Innovatove in Mesquite.
“The DFW portfolio presented ALP with the ideal opportunity to continue accumulating mass in irreplaceable infill locations within top-performing submarkets across the Dallas–Fort Worth market below replacement cost,” said Craig A. Spencer, chairman & CEO of Arden Group and ALP. “This is another exciting acquisition for ALP, and we’re pleased to expand our industrial footprint in the DFW Metroplex, which is now approaching 2 million square feet of assets in the region.”
“With the DFW market experiencing a lack of supply in industrial multitenant product, we believe that these assets are well-positioned for continued growth and will continue to attract businesses looking for well-located, quality warehouse space,” added Christian Vergilio, director of industrial acquisitions at Arden Group.
In addition to this latest DFW acquisition, ALP’s national portfolio also includes properties in the Atlanta, Boston, Charlotte, Columbus, Houston, Indianapolis, Philadelphia, San Antonio, Tampa and other infill markets.
