JLL
represented and marketed the portfolio on behalf of the seller, CanTex
Capital. The Bendetti Company acquired the assets from CanTex after going
through a competitive process.
Additionally,
working on behalf of the new owner, JLL placed the three-year, floating-rate loan
with Bridge Investment Group.
The
portfolio is 82 percent leased to seven tenants with a weighted average lease
term of more than six years.
The
portfolio comprises properties at 1209 Round Table, 4924 Woodall St. and 8517
Directors Row in Dallas; 4901 Beach St. in Ft. Worth; 924 111th St. in
Arlington; and 1609 109th St. in Grand Prairie.
 |
| Aaron Weaver |
Completed
between 1958 and 1981, buildings feature clear heights ranging from 14 to 23
feet; 18 percent average office finish; a mixture of rear- and front-loading
and cross dock configurations; 35 dock-high doors, six drive-in doors; and
ample parking.Situated
on a total of 21.5 acres, all six properties are within DFW’s most coveted
infill industrial submarkets, Brookhollow, GSW and North Fort Worth, providing
unparalleled connectivity to metro’s dominant transportation arteries,
strongest labor pools and primary residential hubs.
“This portfolio sale marks our first full
cycle value-add with lease-up and is a subset of the industrial properties that
we are continuing to aggressively acquire and value-add throughout Dallas/Fort
Worth,” said Romit Cheema, CEO of CanTex Capital.
 |
| Dustin Volz |
Vintage
shallow bay product (pre-2000) within the DFW industrial market has
consistently outperformed bulk industrial product, with stable occupancy
averaging 95 percent since 2010, outstanding historical rent growth and
reliable leasing velocity.
“Dallas/Fort
Worth is a dynamic market with strong fundamentals and tremendous growth
potential,” said Aaron Weaver, CFO of The Bendetti Company.
“With this acquisition, we are excited to be
entering a new market and we seek additional assets in the Dallas/Fort Worth
metro area that are well-aligned with our ongoing investment strategy.”
 |
| Stephen Bailey |
The
JLL Industrial Capital Markets team that represented the seller was led by
Senior Managing Director Dustin Volz, Managing Director Stephen
Bailey and Analyst Matthew Barge.
The
JLL Capital Markets Debt Placement team that represented the buyer was led by
Managing Director John Chun, Directors Peter Thompson and Jarrod
McCabe, Associate Samuel Godfrey and Analyst Jordan Leake.
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.
 |
| Matthew Barge |
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
CanTex Capital
CanTex Capital is
a premier commercial real estate investment firm in Dallas actively acquiring
infill industrial properties throughout Texas.
We focus on acquisitions, construction,
management and development with a focus on light industrial assets.
 |
| John Chun |
The breadth of their experience in commercial real estate spans
different geographic markets, asset types and market cycles giving us a diverse
and unique perspective and outlook.
About
The Bendetti Company
The
Bendetti Company is a Southern California-based commercial real estate company
which focuses on the investment and management of commercial properties in the
western U.S.
Founded in 1964, The Bendetti Company looks
for value-add or core plus investment opportunities to achieve superior
risk-adjusted returns.
About
JLL
 |
| Peter Thompson |
JLL (NYSE: JLL) is a leading professional
services firm that specializes in real estate and investment management.
JLL
shapes the future of real estate for a better world by using the most advanced
technology to create rewarding opportunities, amazing spaces and sustainable
real estate solutions for our clients, our people and our communities.
JLL
is a Fortune 500 company with annual revenue of $16.6 billion, operations in
over 80 countries and a global workforce of more than
92,000 as of June 30, 2021.
JLL is the brand name, and
a registered trademark, of Jones Lang LaSalle Incorporated.
 |
| Jarrod McCabe |
 |
| Samuel Godfrey |
CONTACT:
Kimberly Steele
PR, Capital
Markets
Agency Leasing and
Valuation Advisory
JLL
T +1 713 852 3420
M +1 832 244 9994
bendetti.com.
JLL.com
