Lincoln Property Buys Suburban Dallas Industrial Asset

Star Commerce Center III B. Image courtesy of JLL

Lincoln Property Co. has acquired Star Commerce Center III B, a 177,510-square-foot, Class A warehouse in Frisco, Texas. JLL Capital Markets worked on behalf of the seller, Blue Star Land, which was also the original developer of the property.

Completed in 2022 and part of the North Dallas submarket, the project received construction financing from Plains Capital Bank, according to CommercialEdge.

The building is located across Star Commerce Center III A, a 101,509-square-foot warehouse acquired by Lincoln Property Co. in September, the same data provider shows. Earlier this month, the company made another investment in the South: the firm paid $81 million for Airpark West, a 626,061-square-foot industrial park in Charlotte, N.C.

The rear-load warehouse is located at 16240 Gateway Path on a 10.5-acre site and features three drive-in doors, 41 dock-high doors, 32-foot clear heights and 210 parking spots. The building is fully occupied by multiple tenants, including Stryve Foods LLC and Shield AI. Situated 19 miles from Plano, Texas, and 35 miles from Dallas, the asset provides easy access to the Texas Triangle area.

The JLL Capital Markets investment advisory team formed of Senior Managing Directors Stephen Bailey and Dustin Volz, Directors Dom Espinosa and Zach Riebe, together with Analyst Matthew Barge, worked on behalf of the seller. In September, Bailey, Volz and Espinosa assisted Urban Logistics Realty in the disposition of Urban District 183, a Class AA, three-building industrial park in Euless, Texas.