JLL Capital Markets closes sale of Logistics Center at McKinney Building B in McKinney, TX

Pauli Kerr

 DALLAS, TX – JLL Capital Markets has closed the sale of the Logistics Center at McKinney Building B, a Class A, 301,796-square-foot industrial building in McKinney, Texas. The price was not disclosed.

 

JLL represented the seller, a joint venture between Thor Equities Group and Morgan Stanley, in the sale to AC Industrial Properties LLC.

Dustin Volz

The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Directors Dom Espinosa and Zach Riebe and Analyst Pauli Kerr.

 

 Logistics Center at McKinney Building B is a rear-load building featuring 32’ clear heights, 130’ truck court, 52 overhead doors, two drive-in doors and 190 parking spaces.

 

The property is situated on 16.82 acres at 350 Cypress Hill Dr. with direct access to Dallas-Fort Worth and Texas’s major commercial hubs via U.S. 75, Highway 380 and State Highway 121.

 

 Stephen Bailey

As a result, Logistics Center at McKinney Building B is within 20 miles of 1.46 million residents. Furthermore, the building is located five miles from McKinney National Airport.

 

Logistics Center at McKinney Building B benefits from its position in the Northeast Dallas Industrial submarket, which accounts for approximately 20% of the submarket’s total inventory.

 

 Vacancy within the submarket is now below the market average. Most new development is occurring in the outlying areas of the submarket, such as McKinney and Frisco.

 

 Last-mile tenants are relocating to these fast-growing suburbs following the population growth that has occurred over the past two decades.

Dom Espinosa

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.

 

For more news, videos and research resources on JLL, please visit our newsroom.

 

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About Thor Equities Group

 

Thor Equities is a leader in the development, leasing and management of office, industrial, laboratory, residential, hotel and mixed-use assets in premier urban locations worldwide.

Zach Riebe

The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet.

 

Thor has a strong presence on three continents and in addition to its U.S. holdings, the company has assets in European gateway cities including London, Paris, Madrid and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 18 million square feet.

 

Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, leveraging market trends to maintain a long-term competitive edge.

 

 Contact:      

   

Cierra Lacasse

PR, Hotels & Hospitality, 

Capital Markets, JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

thorequities.com.