Fort Value Logistics Hub Constructing 1. Picture courtesy of MDH Companions
MDH Companions has acquired Fort Value Logistics Hub Constructing 1, a 670,914-square-foot industrial constructing in Fort Value, Texas. VanTrust Actual Property offered the asset for $67.5 million.
MDH Companions Senior Managing Director Joe DeHaven led the acquisition for the customer whereas Eastdil Secured represented the vendor.
In 2020, the property turned topic to a building mortgage of $31.6 million supplied by UMB Financial institution, with a maturity date set for 2023, CommercialEdge info exhibits. Based on the identical knowledge supplier, Constructing 2, comprising 607,074 sq. toes, is presently underneath building.
Constructing 1 at Fort Value Logistics Hub got here on-line in 2022 on 39 acres, that includes 36-foot clear heights, between 50- and 56-foot column spacing and ESFR hearth sprinklers, in addition to trailer parking stalls and 245 automobile parking areas. The Class A, single-story constructing is totally leased to Samsung SDS America, a supplier of logistics and IT companies to the Samsung Group.
Positioned at 9450 Burleson Cardinal Highway, the property is 10.3 miles from downtown Fort Value and 40 miles from Dallas. The ability is located close to interstates 20 and 35, with Dallas-Fort Value Worldwide Airport some 30 miles away. Firms within the surrounding space embrace XPO Logistics, Lineage Logistics, Mom Parkers Espresso and Ben E. Keith Meals, amongst others.
MDH Companions’ latest Texas offers
Atlanta-based MDH Companions continues to increase its Texas footprint, the present transaction bringing it to three.3 million sq. toes.
In 2021, the corporate acquired Everman Crossroads, a 1 million-square-foot portfolio, totally leased to Purina and GXO Logistics. Extra just lately, MDH has dedicated to buying Loop 375 Industrial, a 550,000-square-foot campus in El Paso, Texas, upfront of the speculative mission’s completion.
Dallas-Fort Value is among the high U.S. markets when it comes to industrial provide. Based on the most recent CommercialEdge report, after the primary two months of 2023, the market was main with 59 million sq. toes underneath building, representing 6.7 % of inventory, adopted by Phoenix with 54.1 million sq. toes, accounting for 15.6 %.
