Dallas-area light industrial building trades hands

 

 Erin Lazarus

DALLAS,TX – JLL Capital Markets announced it has closed the sale of an 83,140-square-foot, multi-tenant, value-add light industrial building at 1501 N. Plano Rd. in the northern Dallas suburb of Richardson, Texas.

 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 

                                                  About Berkeley Partners

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

jll.com.