Longpoint Picks Up 415KSF Distribution Center in DFW
Longpoint Partners has acquired Valley View Business Center, a 414,871-square-foot industrial building in Irving, Texas, within the Las Colinas submarket of Dallas-Fort Worth.
Cushman & Wakefield worked on behalf of the seller, Brookfield Asset Management. The property is fully leased to ASC Engineered Solutions and OMEGA Environmental Technologies.
Valley View Business Center is a Class A facility at 1401 Valley View Lane. The property came online in 2009 and includes cross-dock configuration, 30-foot clear heights, loading doors, dock levelers and bumpers, ESFR sprinkler systems, an office build-out component, an ample truck court and 188 vehicle parking spots.
The asset is on a 21-acre lot, allows easy access to Interstate 30 and is close to Dallas-Fort Worth International Airport. Additionally, Dallas is 16 miles away, Fort Worth is 21 miles southwest and Fort Worth Meacham International Airport is 22 from the property.
Vice Chairman Jim Carpenter, Executive Managing Director Jud Clements, Executive Director Robby Rieke and Associate Trevor Berry with Cushman & Wakefield negotiated on behalf of Brookfield Asset Management.
DFW leads in sales
The nation’s total industrial transaction volume during the first three quarters of 2024 decreased by $1.1 billion, when compared to the same period last year, according to the latest CommercialEdge report. Oppositely, the Dallas-Fort Worth market’s deal volume went up by $1.1 billion through this periods, in comparison with 2023 data.
Year-to-date through October, Dallas-Fort Worth has maintained its position as the U.S. market with the highest sales volume. Industrial deals in the Metroplex totaled $3.8 billion, with properties trading at an average price of $113 per square foot, below the national average of $129 per square foot.
Recent deals in the metro include Bixby Capital Management’s acquisition of a 533,632-square-foot industrial complex in Mesquite, Texas. The three-building property changed hands from Huntington Industrial Partners in October.
Last month, Basis Industrial purchased an eight-property light industrial portfolio in the Metroplex from Birtcher Anderson & Davis and Belay Investment Group. The buyer secured $138 million in acquisition funding from Beach Point Capital Management.
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