Bridge Logistics Buys DFW Facility
Completed in 2022, the property is in an area with low supply of infill industrial assets.
804 W. Shady Grove Road. Image courtesy of Bridge Logistics Properties
Bridge Logistics Properties, a subsidiary of Bridge Investment Group Holdings Inc., has acquired a 203,430-square-foot industrial building in Grand Prairie, Texas. Landmark Cos. sold the Class A property, CommercialEdge shows, with the assistance of Cushman & Wakefield.
Landmark purchased the 12-acre development site in 2020 from National Stone Management and broke ground on the project, dubbed Landmark at the Grove, the following year.
Designed by RGA Architects, the industrial facility came online at 804 W. Shady Grove Road earlier this year. The warehouse features 32-foot clear height, 42 dock-high doors and 49 trailer storage spots.
The property is roughly 17 miles northwest of downtown Dallas within the metro’s infill Great Southwest submarket. The location is 4 miles north of Interstate 30, 4.6 miles from Irving and 8.4 miles from Dallas-Fort Worth International Airport.
Cushman & Wakefield Executive Managing Directors Kurt Griffin and Nathan Orbin represented the seller.
BLP has recently established its fourth regional headquarters in Dallas, the other three being in New Jersey, Los Angeles and Atlanta. The company is focusing on purchasing infill logistics assets in markets where the supply is low, and the acquisition of the Grand Prairie property is a good addition to its growing industrial portfolio, Managing Director Connor Tamlyn said in prepared remarks.
Last month, the company purchased a two-building industrial portfolio in Linden, N.J., from Embee Associates. A $94.5 million loan from Prudential Financial Insurance Co. financed the acquisition.
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