Transpacific Development Co. of Torrance, CA, bumping its NorthTexas portfolio to 1.65 million sf, has added a 400,000-sfdistribution center at 4801 Westport Pkwy.and 320,000-sf one at 13501 Independence Pkwy. The adjacentproperties, sold by affiliates of Magoon Estate Ltd. of Honolulu,are leased to Alpharetta, GA-based UPS Supply Chain Solutions Inc.,with the larger one subleased to Schaumburg, IL-headquarteredMotorola Inc. If local sources have it right, the leases have lessthan five years before they expire.

Sources also say the Alliance Gateway assets were marketed as apackage two years ago. Due to the nature of the deal, the finalprices aren't readily available, but the best-guess from those inthe know is they brought more than the standard rate of $40 per sffor industrial sales. The six-year-old Westport building sits on24.4 acres, with a Tarrant County assessment of $13.98 million. TheIndependence Parkway property, developed in 1999, takes in 18.3acres, with a $10.9-million assessment. Atlanta-based IDI Inc.developed both structures.

Transpacific president Thomas Irish tells GlobeSt.com that he'sbeen in talks for the duo off and on since they came off themarket, but negotiations advanced to a more serious level inDecember 2006. He says the deals closed on an all-cash basis, butthe plan is to float 10-year loans to cement the plan for along-term hold.