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| 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.
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| 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.
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| 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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