Harbor Capital Enters DFW With 607 KSF Buy
Harbor Capital has entered the Dallas-Fort Worth market with the acquisition of Corbin Industrial Park, a 20-building, 606,911-square-foot industrial campus in Denton, Texas. Mar-Properties sold the portfolio, CommercialEdge data shows.
Argentic Investment Management provided a $38.7 million acquisition loan, according to Denton County public records. The new owner’s investment strategy will include individual and bulk sales of the buildings after a hold period.
Nineteen Blocks served as equity placement partner, while Newmark Capital Markets sourced the debt. Frazier Commercial Real Estate brokered the deal and will continue to oversee the leasing efforts. Additionally, KSR sourced the opportunity for Harbor Capital, while TIG Real Estate Services will handle property management services.
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The Class B campus came online in two phases—in 2005 and 2014. The buildings average 30,346-square feet in size and have 24-foot maximum clear heights, dock-high loading doors and drive-in doors, as well as 700 parking spaces. The property also provides industrial outdoor storage space.
The industrial park is at 5000 Shelby Lane, close to Interstate 35W and less than 2 miles from the Denton Enterprise Airport. Downtown Fort Worth is within 36 miles, while the DFW International Airport is 30 miles away.
Nineteen Blocks Managing Partner Michael Lohan and Market Director Luke Burns worked as equity placement partners. Newmark Senior Managing Director Chris McColpin provided debt sourcing services, while KSR Senior Executive Vice President Steven Pollan, Vice President Joseph Kassin and Director Joseph Ash sourced the opportunity.
Frazier Commercial Real Estate Owner Don Frazier and Broker Cole Frazier facilitated the deal.
DFW’s industrial pipeline remains strong
The Metroplex’s industrial pipeline included more than 16.3 million square feet under construction as of July, ranking second nationally, according to a CommercialEdge industrial report. Phoenix was the only metro to surpass Dallas-Fort Worth, with just under 37 million square feet underway.
In May, Crow Holdings Development broke ground on Core30 Logistics Center, a 511,000-square-foot industrial campus in Dallas. The two-building development is expected to come online in the first quarter of next year and will provide cross-dock and front-load services.
One of the largest properties to come online in the Metroplex this year was Stonemont Financial Group’s Sunridge Industrial Park, a 565,259-square-foot Class A facility in Wilmer, Texas. The warehouse broke ground in 2023.
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