Bentall Kenedy and Trammell Crow Co. have sold three industrial buildings totaling 1.4 million square feet to Invesco Real Estate. Trade Center I, II, and IV are just north of Dallas/Fort Worth International Airport on Regent Boulevard and Esters Boulevard.
The CBRE team of Jack Fraker, Josh McArtor, Jonathan Bryan, and Heather McClain Venegoni represented the sellers in the deal. Financial terms weren’t disclosed.
Trade Center II and IV are 92 percent leased to four tenants; Trade Center I remains vacant. The properties were built between 2004 and 2008 and feature 30-foot to 34-foot clear heights, deep truck courts, ESFR sprinkler systems, and showroom and office areas.
McArtor, executive vice president at CBRE, said the properties’ location was part of the appeal. “Historically, the DFW Airport has been the main economic driver for North Texas and will continue to be one of the most attractive destinations for North Texas industrial users,” he said in a statement.
According to CBRE, the D/FW Airport submarket saw 1.2 million square feet of positive net absorption in 2012.