Tuesday, May 24, 2022 May 24, 2022
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Real Estate Briefs

CBRE Arranges Sale of 616,000-Square-Foot Industrial Park in South Dallas

Plus: Ritz-Carlton coming to Frisco; A new, 3,200-acre master planned community in Celina; and more.
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TCC Altamoore has a new owner. Located at 9280 Van Horn Drive in Dallas, the industrial business park includes three buildings with close proximity to I-20. New York City-based investment firm KKR purchased the three-building asset from Dallas-based Trammell Crow Co. for an undisclosed price.

Randy Baird, Jonathan Bryan, Ryan Thornton, and Elizabeth Bachhuber with CBRE arranged the transaction on behalf of the seller.

“South Dallas continues to be one of the most sought-after industrial submarkets in the country because of its excellent connectivity and expansive blue-collar labor pool,” said Ryan Thornton, executive vice president with CBRE. “There was significant interest from investors in TCC Altamoore because of the overall DFW market fundamentals coupled with the limited supply of Class A+ industrial product.”

According to CBRE research, industrial vacancy in DFW is at 4.8%. There is approximately 57.3 million square feet of industrial under construction—with 7.7 million square feet delivered in the first quarter of 2022.

Save the Date

ULI will host its annual “LPC What’s New, What’s NEXT” at Irving Convention Center on May 17. What started as a way for the ULI-DFW chapter to share exciting innovations with its members has morphed into a signature event as experts in 11 sectors are split over the day-long event.

The keynote will be Beth Osborne, who is the director of Transportation for America, which is a part of the Smart Growth America advocacy group with the mission of creating “healthy, prosperous, and resilient” cities. During the hour and a half keynote over lunch, Osborne will discuss the Infrastructure Bill and its implications on North Texas.

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Breaking Ground in Celina

The city of Celina, Rex Real Estate, and developer Centurion American announced this week its plans for a massive 3,200-acre master-planned development in Celina. The development will include 7,000 single-family residential homes, 4,100 multifamily units, and 100 acres of available commercial development. It will also include four miles of access to the Dallas North Tollway as it extends and will be home to the first golf course within the city of Celina.

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Fields West Courtesy Gensler

Ritz-Carlton Coming to Frisco

Marriott International Inc. has signed an agreement to bring a Ritz-Carlton to Frisco. Part of the 180-acre Fields West development led by Hunt Realty, Karahan Cos., Chief Partners LP, and Cross Tie Capital and located near the PGA of America’s new headquarters development, the new project is three times the size of Plano’s Legacy West. Gensler is the architect of record on the project. Additional details on the project will be announced at the 2022 ICSC Conference in May in Las Vegas.

Author

Brandon J. Call

Brandon J. Call

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Brandon J. Call is the executive editor for D CEO magazine. An award-winning business and data journalist, Call previously served…

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