Hines Sells DFW Industrial Park

Bison Grove Business Park. Image courtesy of CenterPoint Properties

CenterPoint Properties has purchased Bison Grove Business Park, a nearly 900,000-square-foot, four-building industrial park in Lewisville, Texas. The seller and developer of the recently completed asset was Hines, CommercialEdge data shows. CBRE Vice Chairman Randy Baird facilitated the transaction.

With this acquisition, CenterPoint Properties is continuing its expansion into the Dallas-Fort Worth, Austin, Houston and San Antonio markets. In April, the company bought Innovation Business Park I & II, a two-building, Class A logistics campus totaling 361,467 square feet in Hutto, Texas, while in December 2021, it purchased Stadium Logistics Center, a 330,000-square-foot industrial asset in Irving, Texas, from CT Realty.

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Bison Grove Business Park is situated on a 62-acre lot at 701 and 801 Spinks Road and at 700 and 800 W. Round Grove Road. Completed earlier this year, the industrial campus features clear heights of 32 to 36 feet, almost 800 parking spots for vehicles and 100 parking spots for trailers, and is designed to accommodate multiple tenants, said Rives Nolen, CenterPoint senior vice president of investments, in prepared statements.

The Class A property was 78 percent leased at the time of closing. In order to facilitate occupancy, the new plans to add more office space. Stream Realty Senior Vice Presidents Bob Hagewood and Jeremy Kelly will market the available space for lease.

Having frontage on South Edmonds Lane, Bison Grove is 6.9 miles from Dallas-Fort Worth Airport and 25 miles from Dallas. Its proximity to Texas State Highway 121 and Interstate 35 East provides easy access throughout the entire metro.