Fort Capital Buys DFW Mixed-Use Asset

Ballpark Circle. Image courtesy of Fort Capital

Lexington Realty Trust has sold Ballpark Circle, a two-building Class A property encompassing 236,547 square feet of office and light industrial space in Arlington, Texas. The buyer, Fort Capital, has tapped JLL to lease the mixed-use complex.

The 2003-built Ballpark Circle last traded in December of that year, when the current seller paid $23.5 million for it, CommercialEdge data shows.

Located on more than 14 acres at 1401-1501 Nolan Ryan Expressway, the property includes a 161,808-square-foot office building along with a research and development facility totaling 74,739 square feet. The two- and three-story campus offers 37,369 and 53,935-square-foot floor plates, conference rooms and a parking ratio of 3 spaces per 1,000 square feet.

The tenant roster includes a division of Arrow Electronics, A.E. Petsche and Cyient, according to CommercialEdge. A.E. Petsche moved into the building slightly over a year ago, when it signed a 23,000-square-foot lease.

Ballpark Circle is within Arlington’s Entertainment District, just off Interstate 30 and less than a mile from the AT&T Stadium and Esports Stadium Arlington. Downtown Dallas is 18 miles east, while downtown Fort Worth is some 16 miles west of the property.

Previous deals

Fort Capital’s current purchase comes on the heels of another acquisition in the Arlington submarket. Last week, the company acquired Shoreline Business Park, a four-building Class B industrial asset totaling 190,008 square feet.

In July, Fort Capital sold a twelve-building industrial portfolio totaling 582,803 square feet to The Arden Group. Taking note of the demand that is driving investors to the sector, the July disposition followed an earlier transaction, where Fort Capital packaged together Class B industrial properties that later sold as a portfolio. Last December, the company sold an eight-building portfolio encompassing 606,889 square feet across the Metroplex.