 |
| Erin Lazarus |
JLL worked on behalf of the seller,
Prattco Creekway Industrial (PCI). Berkeley Partners purchased the asset.
 |
| Stephen Bailey |
The one-story building was completed in 1984 and features four loading docks, two drive-in doors, nearly 40 percent office finish and ample parking.
The property is home to a mix of nationally
and locally based companies with an average remaining lease term of slightly
less than four years
Located in Richardson, the property is
within the epicenter of the Richardson Industrial submarket, Dallas’ largest
and most active suburban submarket.
Properties in this submarket benefit from a strong user demand for light industrial space and minimal vacancy.
The building
is at the intersection of Plano Road and E. Collins Boulevard with frontage and
direct access to major Dallas arterials, including State Highway 75, President
George Bush Turnpike and Interstate 635.
The JLL
Capital Markets Investment Advisory team representing the seller was led Senior
Director Stephen Bailey, Director Zane Marcell and Analysts
Zach Riebe and Erin Lazarus.
 |
| Zane Marcell |
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization.
The firm
has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
For more news, videos and research resources on JLL,
please visit our newsroom.
About
Prattco Creekway Industrial
Prattco Creekway Industrial (PCI) was launched in 2016 to acquire and manage Class A-, B and well-located C light industrial buildings in Texas and surrounding Sunbelt States.
 |
| Zach Riebe |
Founded in 2005, Berkeley Partners has formed a series of funds focused on the light industrial sector.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.
JLL
is a Fortune 500 company with annual revenue of $18.0 billion in 2019,
operations in over 80 countries and a global workforce of over 92,000 as of
September 30, 2020. JLL is the brand name, and a registered trademark, of Jones
Lang LaSalle Incorporated.
CONTACT:
Kimberly
Steele
JLL Senior Associate
Public Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
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