FORT WORTH – (Realty News Report) – Interstate Crossing, a newly built industrial distribution center leased to Amazon, has been acquired by a real estate investment trust, CBRE announced.
The 1,023,488-square-foot facility sits within the Interstate Crossing development at 1851 NE Loop 820 in Fort Worth.
CBRE Team
A CBRE National Partners team led by Jack Fraker, Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber represented seller Hunt Southwest Real Estate Development, LLC in the transaction.
“Beyond its state-of-the-art construction, Interstate Crossing attracted strong capital-market interest because of its best-in-class tenant and its infill location within one of the largest and most active industrial markets in the nation,” said T. Preston Herold, president of Hunt Southwest. “Originally developed as a speculative project, the sale produced a positive outcome for our stakeholders, including the Lamar Hunt family.”
Hunt Southwest developed the property, and its strategic positioning at the interchange of Interstate 820 and Interstate 35W supports its competitiveness among top-tier industrial buildings in the region. The facility offers 40-foot clear heights, fully HVAC-conditioned office and warehouse space, abundant trailer and auto parking with expansion potential, and 195-foot truck courts.
Class A+ Physical Specifications
Located at 1851 NE Loop 820, Interstate Crossing’s Class A+ specifications and strategic highway access enable it to compete with premier industrial properties in Fort Worth. Highlights include 40-foot clear heights, 100% HVAC coverage in both office and warehouse areas, ample trailer and auto parking with room for expansion, and 195-foot truck courts.
Positioned in the North Fort Worth submarket, Interstate Crossing benefits from strong population growth and deep labor pools nearby. Planned infrastructure investments along Interstate 820 and Interstate 35W over the next two years are expected to support continued industrial demand in the area.
CBRE’s U.S. Industrial & Logistics figures for Q1 2021 note the industrial sector remains robust as companies lease space to meet surging e-commerce demand. Nationally, nearly 100 million square feet of industrial space was absorbed in Q1, marking one of the strongest quarterly totals on record.
Fort Worth: Ground Zero for Industrial Growth
Fort Worth continues to experience a surge in industrial activity and new construction.
Last year, Clarion Partners and Crow Holdings Capital, in partnership with Rob Riner Companies, acquired 556 acres in Fort Worth to develop Carter Park East, a multi-phase project planned to deliver roughly seven million square feet. Stream Realty Partners’ leasing team—Seth Koschak, Forrest Cook and Jeff Rein—was engaged to lease the large-scale development.
In another recent local transaction, Dalfen Industrial purchased a fully leased, 98,666-square-foot property in White Settlement, in West Fort Worth. The asset, West Tarrant Distribution Center, sits at 1403 S Cherry Lane near the I-820 loop and is adjacent to Lockheed Martin Aeronautics’ headquarters, where military aircraft including the F-35, F-22, F-16, C-130 and U-2 are manufactured. Built in 2017, the facility serves a strong industrial corridor in the market.
Fort Worth is also home to Hillwood’s AllianceTexas development—founded by Ross Perot Jr.—a 26,000-acre master-planned industrial and logistics hub located roughly 14 miles north of downtown.
May 24, 2021 Realty News Report. Copyright 2021.
Image: Courtesy CBRE
File: Hunt Southwest Sells Amazon Distribution Facility in Fort Worth
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