 |
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.
