CBRE Fund Buys 953 KSF Industrial Park

820 Exchange. Image courtesy of CBRE Investment Management

A CBRE Investment Management-sponsored fund has acquired 820 Exchange in Haltom City, Texas. CommercialEdge listed the most recent owner of the recently built 952,764-square-foot industrial park as Creation Equity.

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Situated along Interstate 820 within the Dallas-Fort Worth submarket of Meacham/Fossil Creek, 820 Exchange is close to several major thoroughfares, such as I 35W and state highways 114, 121 and 26. Additionally, the park is less than 8 miles from downtown Fort Worth and roughly 33 miles from downtown Dallas. Some 400,000 households are within a 10-mile radius of the facility and 1 million households are within a 20-mile radius.

Building by building specifics

According to CommercialEdge data, 820 Exchange was completed this year, with the developer taking out a $47.3 million construction loan in 2019 from Bank of America. The Class A park is 72 percent leased to three tenants and comprises four buildings as follows:

• Building 1: Located at 4251 Northern Cross Blvd., the structure spans across 427,908 square feet and includes 36-foot clear height and a cross-dock configuration. The asset is fully leased.
• Building 2: Situated at 5030 Anderson Blvd. and totaling 138,600 square feet, the structure has a single-load docking layout, 30-foot clear height, a shared central truck court, as well as ample trailer and vehicular parking, suitable for single or multi-tenant occupancy. The property is partially leased.
• Located at 5020 Anderson Blvd., Building 3 spans 158,400 square feet and includes a single-load docking layout, 30-foot clear height, a shared central truck court. The asset is currently vacant.
• The last building is situated at 4250 Northern Cross Blvd., includes 227,856 square feet, 32-foot clear height and a rear-load layout. The property is 100 percent occupied.

The purchase is the latest move into the industrial sector for the fund—formerly known as CBRE Global Investors. Recent transactions include the acquisition of a 29.3-acre site for an upcoming industrial building in Tracy, Calif., and a 287-acre development site in metro Atlanta, both in partnership with Trammell Crow Co.