"I would characterize it as the largest, single assignment we've been awarded on the industrial front," John Fulton, TCS' senior vice president, tells GlobeSt.com. Fulton and Todd Jones, also a TCS senior executive, will be in charge of the account.

"The magnitude of the assignment and the quality of these new buildings make this portfolio all the more appealing," Kim Butler, TCS executive vice president and Dallas City Leader, says in a prepared statement.

Teachers had been courted by several well-known national and local players for the package, decided through the competitive bidding process. The leasing and management contract is one of the largest to come down the pike in the region in quite some time, say the TCS executives.

The portfolio consists of bulk distribution facilities, all constructed in the past three years. Some of the existing tenants are Briggs Weaver, Square D Company, Michael's Stores, Corporate Express and Four Seasons. Overall occupancy is 94%, but Fulton doesn't foresee it will take long for full lease-up. "There already are some deals working," he says. Waters Ridge II has 92,267 sf available and Park West II, 61,523 sf, according to Fulton.

The three-building Waters Ridge and a build-to-suit in Arlington had been part of Teachers' 1.9-million sf buy earlier in the month from the dissolved Panattoni-Hillwood joint venture. The class-A properties are Waters Ridge I, a 600,680-sf structure at 1800 Waters Ridge Dr. in Lewisville; the 415,000-sf Waters Ridge II at 1901 Waters Ridge Dr.; and 675,594-sf Waters Ridge III, situated at 1873 Waters Ridge Dr. Coaster Co. of America's 201,600-sf build-to-suit, positioned at 2101 Design Rd., also is in the package.

Teachers had bought Park West Center I and II, at 306 and 204 Airline Dr. in Coppell roughly 60 days ago from Northwest Mutual. Those holdings had been developed by the Paragon Group.