Goldman Sachs, CLX Ventures Land $115M Refi for 2 MSF Portfolio
JLL Capital Markets has secured financing on behalf of Goldman Sachs Alternatives and CLX Ventures for DFW Commerce Center Phase II & III, a three-building, 2 million-square-foot Class A industrial park at Dallas-Fort Worth International Airport. Barings provided the $115 million floating-rate loan, according to CommercialEdge data.
The three buildings are located at 2501, 2701 and 2801 S. Airfield Drive in Irving, Texas. They are part of the second and third phases of the DFW Commerce Center.
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Phases II and III provide excellent access to SH 161, SH 183 and SH 114 for distribution and warehouse users. The buildings are the last developed properties on a Dallas-Fort Worth International Airport ground lease with Foreign Trade Zone capability. The facilities feature clear heights ranging from 32 to 40 feet and 180- to 185-foot truck court depths. They also have 399 dock doors.
Airport proximity is beneficial
According to Robert Smietana, president & CEO of HSA Commercial Real Estate, proximity to airports proves valuable in several ways.
“Warehouses and distribution centers that house delicate and costly inventory for life science and biotech companies need to be located near a major airport, as products are often transported via plane under temperature-controlled conditions to arrive safely within hours at locations across the country,” he told Commercial Property Executive.
In September, Harbor Capital has entered the Dallas-Fort Worth market by acquiring Corbin Industrial Park, a 20-building, 606,911-square-foot industrial campus in Denton, Texas. CommercialEdge data shows that Mar-Properties sold the portfolio.
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.
In September, Invesco Real Estate, in a joint venture with Perot Development Co., sold a 219,000-square-foot, fully leased Class A distribution center in Irving, Texas.
DFW Park 161 AMZL at 3100 State Highway 161, completed earlier this year, is within the master-planned DFW Park 161 and the DFW Airport Industrial submarket, one of the region’s most sought-after industrial areas.
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