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| Northlake Industrial Center, off Interstate 35, three miles north Alliance Texas development, Dallas, TX |
DALLAS, TX – HFF announced today that it has closed the sale
of a two-property, 754,554-square-foot, Class A industrial portfolio in the
Dallas-Fort Worth metropolitan area.
HFF marketed the property on behalf the seller, Panattoni
Development. Cabot Properties purchased
the offering for an undisclosed amount free and clear of debt.
The portfolio includes Northlake Industrial Center,
located just off Interstate 35 approximately three miles north of the Alliance
Texas development, and Towne Lake Business Park Two, located immediately
south of Dallas/Fort Worth International Airport.
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| Randy Baird |
Built in 2008, both Class A buildings feature 32-foot clear
heights and are 100 percent leased to Exel, CEVA Logistics and Falken Tire
Corporation.
The HFF investment sales team representing the seller was
led by senior managing director Randy Baird, managing director Jud
Clements and director Robby Rieke.
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| Jud Clements |
Panattoni Development Company (www.panattoni.com) is a
privately held, full service development company founded in 1986. The firm has
completed in excess of 175 million square feet of commercial projects
globally.
Panattoni has developed industrial, office and flex
facilities in 278 cities located in 29 states and 9 countries. The firm is headquartered in California and
maintains offices throughout the United States, Canada and Europe.
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| Robby Rieke |
Cabot Properties is a private equity real estate investment
firm. The firm is a leading investor,
developer and operator of industrial properties throughout North America and
the United Kingdom.
Formed in 1986,
Cabot has invested $5.2 billion in industrial real estate, managing and
operating approximately 1,800 tenants in more than 125 million square
feet.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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