TCC, ING Clarion Buy Class A Warehouse

The Dallas-based TCC built the office/warehouse in 1990 for the Piscataway, NJ-based Johnson & Johnson Health Care Systems Inc., which vacated it about a year ago after shutting down a North Texas manufacturing facility. The 24-acre holding at 15101 Trinity Blvd. in Fort Worth, which includes an extra 9.5 acres of developable land, was on the market for $5.5 million.

The building is divvied into 148,000 sf of warehouse space with 23 dock doors, 15,000 sf of office space and another 15,000 sf of unfinished mezzanine space. Tarrant County Appraisal District dropped the assessment to $5 million from $6.9 million after the building went dark.

Johnson & Johnson had the Cushman & Wakefield of Texas Inc. Dallas team of Craig Hughes, director, and his brother, Rick Hughes, senior director, and Noel Hutcheson, associate, handling the sale. A confidentiality clause is keeping the final price under wraps, but Rick Hughes did say "we were pleased with the price." He tells GlobeSt.com that the deal, garnering five offers, closed 120 days after it went under contract. Scott Krekorian and Tom Dodge with TCC represented the buy side.

The just-sold asset is across the street from the former Mattel Corp. warehouse, a 508,846-sf distribution facility emptied in 2001. In early summer, the Toronto-based Cott Corp., represented by a TCC team, started negotiations for the former Mattel building at 15200 Trinity Blvd., owned by the Ohio State Teachers Retirement System and leased by the Bradford Cos. Though Cott won't confirm it, industrial brokers have stamped it a done deal, with the publicly traded company inking a long-term lease for the entire building for a Southwest US bottling plant and distribution facility.