ML Realty Adds 349,000 SF to its Portfolio

FORT WORTH-ML Realty Partners LLC acquired three industrial properties totaling 348,871 square feet from AEW Capital Management LP. The commercial real estate deal puts three 100%-leased class A industrial assets into the Irving, TX-based buyer's portfolio.

"We're long-term investors," explains ML Realty Partners' President and CEO Michael W. Luecht. "To be able to acquire these buildings in Centreport for the long term, that's tremendous for us." The buildings in question are in KDC's 250-acre Centreport Business Park and are located at 14800 and 14850 FAA Blvd. and 4251 Empire Rd.

Luecht tells GlobeSt.com that the industrial buildings, which were constructed between 1998 and 2003, are in excellent shape and require nothing in the way of upgrades. He adds that there was buyer competition for the buildings, which were marketed by Randy Baird, Jud Clements, Robby Rieke and Chris Selbo of Holliday Fenoglio Fowler LP. "We made it to the final round with some very well-known investors," Luecht notes.

Luecht says investment, development and leasing activity has definitely picked up in the three markets ML Realty targets. In addition to buying and building in the D/FW area, ML Realty is also active in Houston and Chicago. In the latter two cities, ML Realty recently launched construction on speculative industrial properties. "We should have some pretty exciting news coming out in the Dallas-Fort Worth area during the next few months," Luecht says.