Standard Warehouse Corp., a third-party logistics firm, has cut a sale/leaseback for its 507,984 sf structure. The balance of the acquisition spans seven buildings totaling 843,000 sf. Seller Alexander & Baldwin Inc. has the facilities leased to tenants such as Boise-Cascade, Cutler Hammer and National Envelope.
Mark Cashman, ProLogis' first vice president in Dallas, says in a press release that the buy is part of an ongoing strategy to "enhance our portfolio in one of the strongest industrial parks in Dallas." And, the buys are in line with a strategy to secure distribution facilities in key markets at discounted prices, according to the release. ProLogis officials could not be reached by press time for details of the deals.
ProLogis owns 53 buildings, encompassing 6.5 million sf, in the Great Southwest Industrial Park, a critical regional distribution hub due to its proximity to Interstate 20 and midway positioning between Dallas and Fort Worth.
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