FORT WORTH—A 713,000-square-foot class-A distribution building located at 3000 Cantrell Sansom Rd. is currently under construction and is being developed by DHL Real Estate Solutions. Transpacific Development Company has acquired the facility, although terms of the transaction were not disclosed. The transaction was part of a 1031 exchange that TDC sold in Mesquite, TX last year, GlobeSt.com learns.
“We are very happy to have completed this second investment transaction with DHL,” said Thomas Irish, president of TDC. “Last year, we acquired the adjacent 1.44 million-square-foot building at 5600 Mark IV Parkway from DHL, so we now have more than 2.1 million square feet of brand new state-of-the-art distribution product at the northwest corner of I-35W and 820. TDC is a long-term investor and acquiring these great buildings at this excellent location fits very well with our investment profile.”
The building is scheduled to be completed in early August and is 80% pre-leased. Campbell Soup Supply Company executed a 578,000-square-foot lease at the property and will begin distribution in August. DHL is the tenant at the adjacent 5600 Mark IV Parkway property, and will also provide logistics services to Campbell Soup at the Cantrell Sansom Road facility.
“Texas is very business friendly and we like high-visibility westside locations near major intersections connected to east-west/north-south distribution,” Irish tells GlobeSt.com. “The success of Mark IV Parkway helped to validate our decision. We agreed to pre-purchase the second property if we could participate in the design.”
3000 Cantrell Sansom Rd. has 36-foot clear height, 127 dock or drive-in doors, parking for 205 cars and 163 trailers, and an early suppression fast response sprinkler system. There is approximately 135,000 square feet of distribution space available for lease.
“With the success of our first building at this site on a build-to-suit basis, we were encouraged to go forward with TDC on 3000 Cantrell Sansom on a speculative basis,” said Steve Hess, DHL's vice president of real estate development-Americas. “DHL likes this site both with respect to development and as an optimal location from which to provide our industry-leading logistics services to our clients.”
George Curry and Jamie Galati of JLL's Fort Worth office are the leasing agents for the property. Campbell Soup was represented by Nathan Lawrence, Ryan Keiser, Seth Kelly, Jon Sarkisian and Bill Wolf of CBRE. DHL was represented by Dave Anderson, Nathan Lawrence and Krista Raymond of CBRE.
DHL's Real Estate Solutions group has a portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. DHL is part of Deutsche Post DHL Group, which generated revenues of more than 57 billion euros in 2016.
TDC is a real estate development and investment firm based in Torrance, CA. The firm invests for its own account, without outside partners or investors. TDC entities currently own approximately 5 million square feet of property in four states.
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