KTR Capital tapped the $500-million Keystone Industrial Fund LPto buy the asset at 777 Freeport Pkwy., which had been marketed byCB Richard Ellis principal Bob Scully and senior vice presidentDayton Conklin. With the deal now sealed, it's time to dig into avalue-add plan for a three- to five-year hold, possibly longer.

KTR Capital partner Don Chase says the rail-served campus willbe re-branded into a multi-tenant development for industrial users,primarily aimed at the grocery supply chain, after Minyard'scompletes its move in the fall to Oklahoma City. Several users werelooking to buy Minyard's 25-year headquarters and distributioncenter, but backed away from the deal because it had to be sold inits entirety, according to Chase. "Those same users are still outthere. They still have a need," he tells GlobeSt.com. "Thosecompetitors are our prospects now."

KTR Capital has hired O'Brien & Associates Inc. of Dallas togame out a "cohesive design" for four existing buildings, one ofwhich will be razed, and four that will start to rise in early 2008on 30 acres, six of which front Freeport Parkway. The developableland was "one of the things that was very attractive to us withthis opportunity," Chase explains. The campus sits one mile northof Dallas/Fort Worth International Airport.