JLL Capital Markets closes sale of KONE Industrial Facility in Allen, TX

Beth Copeland

 DALLAS, TX – JLL Capital Markets closed the sale of KONE Industrial Facility, a two-building facility totaling 144,128 square feet of industrial and research space fully leased to KONE in the North Dallas suburb of Allen, Texas.

 JLL marketed the property on behalf of the seller, Sentinel Capital. Tradition Senior Living, LP acquired the asset.

Stephen Bailey

Constructed in 2016, KONE Industrial Facility is fully leased to KONE, one of the global leaders in the elevator and escalator industry.

KONE uses the facility for its Americas’ supply operations, major project engineering, R&D and other product support and installation functions.

The institutional-quality facility comprises a 121,852-square-foot industrial building with a 28-foot clear height, four dock-high doors, one drive-in door and a low office finish, along with a 22,276-square-foot, seven-story elevator test tower with 27 percent office finish.

 Situated on 6.18 acres, KONE Industrial Facility is at 460 and 500 Century Parkway in a highly desirable infill location with immediate access to Highway 75.

Dustin Volz

This coveted location provides easy access to two state highways, 121 (Sam Rayburn Tollway) and 161 (George Bush Turnpike). 

The immediate area is home to some of the most sought-after retail options in the area, including Waters Creek.

 The highly sought-after Dallas-Fort Worth industrial market continues its record-setting demand and absorption, which shows no signs of slowing down.

 KONE Industrial Facility is within the Northeast Dallas Industrial submarket, which is the largest submarket for manufacturing space.

According to JLL Research, this submarket had only 5.9 percent vacancy at the end of the fourth quarter of 2021.

Dom Espinosa 

 The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Stephen Bailey, Senior Managing Director Dustin Volz, Director Dom Espinosa and Analysts Wesley Gilmer and Beth Copeland.

 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 and advisory, debt advisory, equity advisory or a recapitalization.

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

Wesley Gilmer

About Sentinel Capital

Sentinel Capital, LLC formed in 2012 as an opportunistic real estate investment firm that specializes in the acquisition, development, management and disposition of commercial real estate properties located throughout Texas.

 Focusing on markets with long-term economic growth, Sentinel Capital is dedicated to a highly disciplined investment strategy across all real estate asset types, including: industrial, office, retail and multi-family. 

 

 CONTACT:

 

Kimberly Steele

 JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

jll.com.