Stonelake Capital Partners Buys 120 KSF Distribution Center in DFW

Stonelake Capital Partners has acquired a 119,995-square-foot distribution center in the Metroplex. Cushman & Wakefield negotiated on behalf of the seller, a joint venture of Bessemer Trust and Hersch & Co., according to Tarrant County public records. Litex Industries is the sole tenant of the property.

The Class B, one-story asset is at 4400 Diplomacy Road, within the 1,300-acre master-planned CentrePort Business Park. Features include 24-foot clear heights, rail doors, 11 dock-high doors, one grade-level door, dock levelers and bumpers and 105 vehicle parking spots, according to CommercialEdge.

The 6.4-acre property allows for immediate access to Airport Freeway and Texas 183 TEXpress Toll Road. It is roughly 4 miles from Dallas Fort Worth International Airport, 10 miles from Arlington, Texas, 15 miles from Dallas Love Field Airport and within 20 miles of downtown Fort Worth.

Cushman & Wakefield’s Vice Chairman Jim Carpenter, Executive Managing Director Jud Clements, Executive Director Robby Rieke and Director Madeleine Supplee negotiated on behalf of the seller. Stonelake Capital Partners was represented in-house by Partner Coleman Brown, Managing Director of Investments Michael Massad, Associate Will Thomas and Analyst Keontae Burns.

Major Texas deals kick off new year

Recent Texas transactions include Sterling Investors’ purchase of two Class A industrial buildings totaling more than 840,000 square feet. GLP Capital Partners sold the 430,852-square-foot CentrePort 2 in Fort Worth and the 411,460-square-foot Northwest Logistics Center in Houston.

A real estate fund advised by Crow Holdings Capital, together with Creation Equity, sold Northmark Commerce Center in Haltom City, Texas. The 234,475-square-foot facility was completed earlier this year and is fully occupied by a single tenant.