Hopewell and GTIS Sell Metroplex Industrial Asset
The recently constructed park is within a 27,000-acre master-planned development.
A joint venture of GTIS Partners and Hopewell Development has sold Champions Circle Business Park, a 361,040-square-foot industrial campus in Fort Worth, Texas. Stonelake Capital Partners acquired the asset, according to CommercialEdge data.
The duo kicked off the industrial park’s development in 2021, benefitting from a $23.4 million construction loan, the same source shows. Champions Circle was completed a year later.
The park consists of three buildings—two 82,240-square-foot facilities and a third measuring 196,560 square feet. The shallow-bay light industrial structures feature 32-foot clear heights, 190-foot truck courts and building depths ranging from 160 to 210 feet.
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Located on 21 acres at 15860 Championship Parkway, the industrial campus is less than 1 mile from Highway 114 and Interstate 35W. The Dallas Fort Worth Airport operates roughly 19 miles southeast.
Champions Circle Business Park is part of the 27,000-acre Alliance Texas master-planned development, which encompasses 60 million square feet of built space including office, industrial, retail and residential.
The tenant roster includes Optimas, an industrial fastener distributor and manufacturer, and Elliott Electric Supply, as well as Lab Supply, a provider of products for research facilities.
Dallas investment barrels through despite national slump
Investors slammed on the brakes on industrial deals throughout 2024. Last year, the sector made up just 12 percent of sales, down from 21 percent in 2023, DLA Piper’s annual survey shows. However, Dallas industrial investment kept a solid pace throughout 2024, and the market’s momentum lingered well into the new year.
A two-building, light industrial campus traded last month in the Metroplex. Rosewood Property Co. purchased the 200,765-square-foot asset from Provident Realty Advisors. The Plano, Texas, property was 71.1 percent leased at closing.
In January, Alterra IOS expanded its industrial outdoor storage footprint with four more assets. Spanning 35 acres, the collection brought the company’s IOS portfolio to 10 properties in the market.
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