DALLAS-Taking advantage of the growing interest in the South Dallas submarket, Xebec Realty Partners of Seal Beach, CA and CT Realty Investors of Aliso Viejo, CA have teamed to acquire 530 acres in the South Dallas Intermodal Hub. The Orange County investors' plan is for a development that will hold close to 9 million square feet of big box, high clear distribution and e-commerce logistics buildings ranging in size from 500,000 square feet to 1.5 million square feet each.
The acreage is located east of Interstate 45 and half a mile from the gate of the Union Pacific Dallas Intermodal Terminal. The Xebec/CT development partnership intends to prepare the site for the development of speculative and build-to-suit Class A logistics product for some of the largest industrial users in America. Both Xebec and CT have 25-year histories of developing and investing in industrial facilities in the southwestern United States, including Texas.
“We consider this a strategic expansion of our industrial logistics strategy which we implemented aggressively after the downturn in 2008 in Southern California,” says JC “Watty” Watson, CEO of CT Realty Investors in a press release. “The dynamics of the greater Dallas marketplace mirror the activity we have encountered over the last three years in the Inland Empire and other large distribution markets in Southern California, and we are delighted to partner with Xebec Realty Partners in this exciting new venture.”
“Investing in buildings that are strategically located near ports and intermodal facilities and that meet the demands of today's most progressive logistics users is at the heart of our strategy for what will become one of the premier master planned logistics parks in the DFW Metroplex,” adds Randy Kendrick, CEO of Xebec Realty Partners in the same press release. The venture is represented by David Anderson from CBRE in Dallas and CBRE will support the ownership structure on a go-forward basis with leasing, sales and other support services.
Representatives involved in the transaction/announcement were not immediately available for comment, though an update should follow shortly.
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