North Quarter 35. Picture courtesy of Westcore Properties
Westcore Properties has acquired Buildings 1, 2 and 4 at North Quarter 35 in Fort Value, Texas. The earlier proprietor, additionally the developer, was M2G Ventures, CommercialEdge information exhibits.
The three buildings embody a complete of 485,330 sq. ft, bringing Westcore’s Texas portfolio to five.5 million sq. ft of business area. The three amenities are all totally leased.
North Quarter 35 contains 4 buildings, comprising 645,000 sq. ft, and got here on-line in 2021, after the developer bought the location in 2019. The only-story, Class A buildings vary between 108,548 and 257,117 sq. ft and have 30- and 32-foot clear heights, ESFR fireplace sprinklers, dock-high doorways and outsized ramps. Buildings 1 and 4 have rear-load configurations and Constructing 2 encompasses a cross-dock configuration. The three amenities provide a complete of 491 automotive parking areas.
The buildings at North Quarter 35 are positioned at 10717 N. Freeway, 2709 Graham Cracker Street and 2500 Golden Triangle Blvd., 14 miles from downtown Fort Value and have entry to Interstate 35. Dallas-Fort Value Worldwide Airport is 25 miles away. Corporations within the surrounding space embody Amazon, UPS, FedEx, XPO Logistics and Nestle, amongst others.
Westcore represented itself within the transaction whereas Managing Director Seth Koschak and Govt Managing Director Matteson Hamilton with Stream Realty Companions brokered the sale and assisted the vendor.
Final yr in March, M2G Ventures inked a 376,782-square-foot lease for Constructing 1 and a couple of on the industrial park.
Westcore’s Dallas-Fort Value footprint
The present acquisition marks Westcore’s entry within the Fort Value market. The corporate already had a longtime footprint in Dallas of roughly 1.5 million sq. ft. In February, Westcore bought Denton Level I & II, a 242,320-square-foot property in Denton, Texas, which traded for $32 million.
The primary two months of 2023 registered a mean of $109 per sq. foot in DFW, with $30 million in gross sales year-to-date as of February, a CommercialEdge report exhibits. The typical lease noticed a rise of 5.9 % year-over-year, with emptiness at 4.6 %.
