DALLAS--Stonelake Capital Partners has acquired two industrial buildings totaling 150,000 square feet in Great Southwest Industrial Park, and is on the lookout for more.
The addition of the two buildings brings Stonelake's Texas industrial portfolio to 2.5 million square feet, as the firm continues to execute on its Texas industrial aggregation strategy.
“Acquisitions of light industrial buildings in high barrier to entry submarkets, like those located at 1905 110th Street and 1130 Carrier Parkway in Grand Prairie, represent a unique opportunity to buy irreplaceable, highly functional infill distribution buildings at a significant discount to replacement cost,” Coleman Brown, vice president of the Dallas-based firm, told GlobeSt.com. “We are focused on assembling a 1,000,000-square-foot plus portfolio in DFW that fit that criteria.
“Dallas is a key piece in expanding our industrial footprint, adding to the 2,350,000-sf we have acquired over the last 24 months in Houston, San Antonio and El Paso,” he added. “We will continue pursuing industrial acquisition opportunities in Dallas over the next 12-18 months, with an emphasis on infill, 50,000 to 200,000-square-foot distribution buildings with functional ceiling clear heights.”
The buildings, located one-half mile from each other are 100 percent leased to four regional distribution tenants.
Steve Koldyke, Kacy Jones and Wilson Brown of CBRE are representing Stonelake in leasing the project.
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