Uneoth.com

The News Source You've Been Waiting For

Real Estate

Gantry Secures $23M for DFW Industrial Park Acquisition

The commercial spaces at DFW Corporate Park have been recently updated with modern fixtures and upgraded materials. Image courtesy of Gantry

Gantry has secured a total of $23.4 million of senior financing and preferred equity to capitalize the acquisition of DFW Corporate Park, a 211,385-square-foot industrial park in Grand Prairie, Texas. GPR Ventures purchased the asset for $26 million, according to CommercialEdge data.

Gantry’s Principal Braden Turnbull and Associate Keegan Bridges brokered the transaction, securing the financing on behalf of the borrower. The five-year and fixed rate permanent loan was sourced through one of Gantry’s life company correspondents. The company also arranged the placement of a preferred equity commitment from a national private equity investment fund.

Completed in 1981, DFW Corporate Park comprises 22 buildings on a 16.2-acre site. The flex-industrial park incorporates several rear-loaded warehouse spaces, modern office space and street fronting retail spaces for lease. The property features insulated ceilings, climate control, 18-foot clear heights and approximately 630 parking spaces.

Located at located at 2100 N. Highway 360, the industrial park is within the Arlington submarket. DFW Corporate Park is near the intersection of Interstate and State Route 360, which provide direct access to Dallas and Fort Worth, Texas.

The Dallas-Fort Worth industrial supply has increased significantly in 2023. According to a recent CBRE report, almost 4.2 million square feet were absorbed over the third quarter of 2023, bringing the amount of industrial space absorbed in the Dallas/Fort Worth since the fourth quarter of 2010 to 289.7 million square feet.

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *