Acquisition of the Haltom City logistics park
A fund sponsored by CBRE Investment Management – formerly known as CBRE Global Investors – has acquired a 952,764 square foot logistics park outside of Fort Worth. Known as the 820 Exchange, the building consists of four newly constructed Class A logistics assets that are currently 72% leased to three tenants.
This investment is in line with the company’s recent creation of a globally aligned sector logistics team and its commitment to scale up logistics efforts. Other recent acquisitions under this goal include a development site in Tracy, Calif., To build a state-of-the-art logistics center in partnership with Trammell Crow Company, and a portfolio of logistics assets in Atlanta, Baltimore and Chicago via a joint venture with Duke Realty Corporation.
The buildings that make up the 820 Exchange, located in Haltom City, are:
- Building 1, located at 4251 Northern Cross Boulevard, spans 427,908 square feet and includes a headroom of 36 ‘and a transfer configuration. The asset is 100% leased.
- Building 2, located at 5030 Anderson Boulevard, spans 138,600 square feet and has a single loading dock, 30 feet headroom, a central shared truck lot and a large parking lot for trailers and vehicles suitable for single or multi-tenant occupancy. The asset is partially leased by a single user with availability for other users.
- Building 3, located at 5020 Anderson Boulevard, spans 158,400 square feet and features a single-load dock layout, 30-foot headroom, a shared central truck lot, and a large parking for trailers and vehicles suitable for single or multi-tenant occupancy. The property is vacant and available for rent.
- Building 4, located at 4250 Northern Cross Boulevard, spans 227,856 square feet and features a headroom of 32 feet and a rear-load layout. The asset is 100% leased.
“820 Exchange features state-of-the-art construction, equipment and logistics features, and a highly functional design that today’s modern logistics users have come to expect when looking to expand their industrial footprint. in key markets, ”said Mary Lang, director of Americas Direct Logistics Strategies and portfolio manager for CBRE Investment Management. “This particular asset is one of the most recent developments in a land constrained submarket; the first fill location provides interstate frontage and immediate access to key consumer and worker populations in the surrounding area.
LGE Design Build inaugurated the 820 Exchange project in December 2019.
The project marked the entry of the Phoenix-based design builder into the Texas market.