IRVING, TX—KBS Real Estate Investment Trust II, has entered an agreement to sell the 400,000 Dallas Cowboy's Distribution Center, an asset it began marketing earlier this year.
According to a recent 8K filing with the Securities and Exchange Commission, an agreement was reached with Invesco Advisers, Inc., on May 20, with a sale price listed at $22.3 million.
In March, GlobeSt. reported that KBS had made a deal with CBRE for the marketing of the property, at 2500 Regent Boulevard. The single-tenant logistics facility is on a 21.2 acre ground lease parcel. It was acquired by KBS in July of 2010.
Jack Fraker, Josh McArtor, Jonathan Bryan, and Heather McClain Venegoni of CBRE will market the Cowboys Distribution Center along with the National Partners Team, local market experts in each location and Scott Lewis, an expert in CBRE's Debt & Structured Finance group. On its website, KBS described the Dallas Cowboys Distribution Center as a “newly completed, 401,123 square foot state-of-the-art distribution facility,” located in the DFW International Commerce Park. It also notes that major tenants in the park include Availl/Boeing, Amazon.com, Pratt & Whitney, DHL and DB Schenker.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
