Monday, December 1, 2014

HFF closes sale of Pier One Imports distribution center in Fort Worth, TX


14900 Trinity Boulevard, Fort Worth, TX
DALLAS, TX – HFF announced today that it has closed the sale of a 310,000-square-foot Class A distribution center that is 100 percent leased to Pier 1 Imports in Fort Worth, Texas.

HFF exclusively marketed the property on behalf of the seller, IDI Gazeley, part of Brookfield Logistics Properties under the Brookfield umbrella.  

Industrial Property Trust purchased the center for an undisclosed amount free and clear of existing debt.

Jud Clements
The asset is situated on 14.26 acres at 14900 Trinity Boulevard within the Campus @ CenterPort, a 1,300-acre master-planned business park located south of Dallas/Fort Worth International Airport in the Upper Great Southwest industrial submarket. 

Completed in 1994, the center features 30’ clear height, ESFR sprinkler system, 3.5 percent office finish, T5 lighting with motion sensors, 29 dock-high doors and one oversize ramp door.  Additionally, the asset has a cross-dock configuration with four points of ingress/egress off Trinity Boulevard and Frye Road.

The HFF investment sales team was led by senior managing director Randy Baird, managing director Jud Clements, director Robby Rieke and real estate analyst Sean Ryan.   

IDI Gazeley is one of the world’s leading investors and developers of logistics warehouses and distribution parks with 60 million square feet of premier assets under management and additional prime land sites to develop another 63 million square feet of distribution facilities near major markets and transport routes in North America, Europe and China.

Robby Rieke
As part of Brookfield Property Partners, we belong to one of the world’s largest and most sophisticated owners, operators and investors in real estate.

Industrial Property Trust (IPT) is focused on acquiring and operating high-quality distribution warehouses that are leased to corporate customers.  

IPT's core strategy is to build a national platform of high-quality industrial properties by targeting markets that have high barriers to entry, proximity to a large demographic base, and/or access to major distribution hubs.

 IPT has operated and elected to be treated as a real estate investment trust (REIT) for U.S. federal income tax purposes, commencing with the taxable year that ended on December 31, 2013, and IPT intends to continue to operate in accordance with the requirements for qualification as a REIT.

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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