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| Randy Baird |
DALLAS, TX – HFF announced it has closed the sale of a
six-property, 16-building industrial portfolio totaling 462,618 square feet in
the north Dallas-Ft. Worth area.
HFF marketed the property on behalf of the seller, AEW
Capital Management, L.P., who sold the property for one of its institutional
clients. Red Tail Acquisitions
purchased the assets for an undisclosed amount.
The portfolio consists of 1360-1420 Presidential Drive and
850-890 North Dorothy Drive in Richardson, Texas and 1420 Halsey Way, 1406
Halsey Way, 2122 Country Club Drive and 2855 Trinity Square Drive in Carrolton,
Texas.
Located in infill, established industrial submarkets, the
properties are all near major transportation arteries, including Interstates 35
and 635 and Highway 75.
The properties are 87 percent leased overall to 41 tenants,
including NOW Specialties, Inc.; Optex Systems, Inc.; Laboratory Corporations
of America; SKH Beauty, Inc.; All Sorts Mailing Services; Circuitco Electronics
LLC; Advanced Environmental Concepts; Select Cabinet Co.; Milestone
Construction; TraStar, Inc.; and Gym Ratz Basketball Club, LLC.
 |
| Jud Clements |
The HFF investment sales team representing the seller was
led by senior managing director Randy Baird, managing director Jud
Clements, director Robby Rieke and real estate analyst Justin
Kundrak.
The buyer, Red Tail Acquisitions (RTA), is a value and
core-plus investor that seeks office, industrial and retail properties that
normally have leasing or construction issues.
Over the last 25
years, the group has purchased more than 10 million square feet of commercial
property in the western United States.
The acquisitions team was led by Sean Miller,
executive vice president. Ryan Rubenkoenig,
executive vice president, also contributed to the acquisition.
“This acquisition not only represents an exciting
opportunity for Red Tail Acquisitions to expand its DFW holdings, but is also a
prime example of the types of investments we hope to make throughout Texas,”
Miller said. “RTA would like to thank
AEW and HFF, who were great transaction partners.”
 |
| Robby Rieke |
Founded in 1981, AEW Capital Management, L.P. (AEW) provides
real estate investment management services to investors worldwide.
One of the world’s leading real estate investment advisors,
AEW and its affiliates manage over $52 billion of property and securities in
North America, Europe and Asia (as of June 30, 2014).
Grounded in
research and experienced in the complexities of the real estate and capital
markets, AEW actively manages portfolios in both the public and private
property markets and across the risk/return spectrum.
AEW and its
affiliates have offices in Boston, Los Angeles, London, Paris, Singapore and
Hong Kong, as well as additional offices in eight European cities. For more information please visit
www.aew.com.
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
tel (main) 617-338-0990 | (direct) 617-848-1572 | cel
617.543.4873 | www.hfflp.com
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