Monday, September 8, 2014

HFF closes sale of six-property industrial portfolio in Dallas-Fort Worth, TX Market


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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