Check out the Texas Mega Industrial Deals of 2022

Check out the Texas Mega Industrial Deals of 2022
From left: Timothy Gunter of Core5, Craig A. Spencer of Arden Logistics, Joe Iannacone of Titan Development and Jason Haas of Cohen Asset Management (Getty, Titan Development, Arden Logistics, Core5, LinkedIn)

From left: Timothy Gunter of Core5, Craig A. Spencer of Arden Logistics, Joe Iannacone of Titan Development and Jason Haas of Cohen Asset Management (Getty, Titan Development, Arden Logistics, Core5, LinkedIn)

For the last #MagazineWednesday of 2022, let’s take a look at some of the mega industrial deals that went down in Texas this year.

Scout Cold Logistics buys a 1 million square foot warehouse in Dallas for $52 million

The nearly one million square foot distribution center at 4450 Logistics Drive in the south Dallas submarket sold to Miami-based Scout Cold Logistics. Atlanta-based Core5 Industrial Partners recently completed construction on the approximately $52 million project. It includes cold storage capabilities as well as a dry warehouse and office space. The anchor tenant is Illinois-based KeHe Distributors, which provides products to grocers.

CenterPoint buys 900,000-square-foot Bison Grove Business Park

Illinois-based CenterPoint Properties purchased the entirety of the four-building, 900,000-square-foot Bison Grove Business Park in Lewisville, a Denton County suburb. The business park north of DFW International Airport spans approximately 62 acres. It was 78 percent leased at the time of purchase. Hilti Group leased about 485,000 square feet in two of the property’s four buildings, leaving 205,900.

Arden Logistics Parks spans 19 industrial buildings throughout North Texas

Philadelphia-based Arden Logistics Parks bought a 19-building North Texas industrial portfolio from Dallas-based MoxieBridge for an undisclosed price in July. The properties collectively are 764,000 square feet and are located in the eastern and northern Dallas-Fort Worth metro suburbs: Garland, Southlake, Irving, Carrollton, Addison, Farmers Branch and Mesquite.

Titan Development plans ‘megatech hub’ near Samsung factory

Titan Development bought all 188 acres of the Hutto Mega TechCenter, adjacent to a 450-acre industrial megasite drawn from Samsung’s $17 billion semiconductor plant being built in Taylor. Titan’s plans include up to six light industrial buildings ranging from 200,000 to over 1 million square feet.

Velocis positions in the Texas Triangle

Dallas-based Velocis plans to build two massive warehouse complexes in Temple, located along Interstate 35 between Waco and Austin. The warehouses will cost about $53 million, or nearly $62 per square foot, encompassing 855,000 square feet between the two facilities.

Cohen Asset Management’s fully leased 700,000 square feet

Los Angeles-based Cohen Asset Management added to its Texas portfolio of more than 7 million square feet with the purchase of the 700,000-square-foot Sunridge II, at 1700 North Goode Road in Wilmer, from Scannell Properties in November. The property is 100 percent leased to a mystery tenant.

KKR Industrial invests in Texas

KKR plans to build 1.8 million square feet of industrial space in four US cities by 2023, starting with Dallas. The New York-based firm will break ground on a 600,000-square-foot, three-building business park in North Fort Worth in 2023. The $42 million project will cost about $70 per square foot. The development is located southwest of Alliance Airport.

Constellation Partnership acquires 33 acres in Houston

Dallas-based Constellation Real Estate Partners bought about 33 acres for its latest industrial project, with a fund from Crow Holdings Capital, called Constellation Post Oak. The project, at South Post Oak Road and West Fuqua Street in southwest Houston, includes a two-building logistics center totaling 426,200 square feet. Construction costs were not disclosed. The project is scheduled for completion in the second quarter of 2023. It is being marketed to tenants looking for 60,900 square feet to 304,400 square feet, especially those in the e-commerce industry looking to reach the city’s suburbs.

Four Hands finds a new home at the industrial site in Buda near Austin

Austin-based furniture company Four Hands signed a lease for more than 360,000 square feet spread across two buildings at 1795 Firecracker Drive in Buda, near Austin. The site will serve as the company’s new headquarters, located in the Buda Midway industrial complex owned by United Properties.

Lineage Logistics leases 315,000 square feet of cold storage in Houston

Michigan-based cold storage firm Lineage Logistics signed a long-term lease to occupy a 315,000-square-foot cold storage facility in Houston. The lease was signed before the construction of the building was completed. The site spans 23 acres at 7500 Uvdale Road and is co-owned by Houston-based Boomerang Interests and partner CenterSquare Investment Management. Construction was completed in September.

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