Clarion Partners Acquires Suburban Dallas Industrial Park

Intermodal Commerce Center. Image courtesy of JLL Capital Markets

A joint venture including Gruene Real Estate Partners, Weber & Co. and the industrial arm of Crow Holdings Development has completed the disposition of Intermodal Commerce Park, a fully leased industrial park totaling 1.4 million square feet in Haslet, Texas.

Clarion Partners acquired the three-building asset within AllianceTexas, a master-planned community covering 27,000 acres in the Dallas-Fort Worth metro.

JLL Capital Markets arranged the transaction. The JLL team, which worked on behalf of the seller included Dustin Volz, Stephen Bailey, Dom Espinosa, Wells Waller and Jack Copher. In March, another industrial park within AllianceTexas changed ownership. KKR acquired Alliance Northport, a 911,654-square-foot complex in Northlake, Texas, which was 95 percent leased at the time of the sale.

A fully leased industrial park within AllianceTexas

The partnership completed Intermodal Commerce Park at 206, 230, 280 S. Intermodal Parkway in the last quarter of 2021, with the help of a $51.8 million construction loan originated by First United Bank and Trust Co., CommercialEdge data shows. JLL marketed the property and helped secure leases with H-E-B, Volkswagen, Prairie Industries and ANEW Business Solutions, bringing the asset to full occupancy.

The single-story buildings equipped with an ESFR sprinkler system include a 36-foot clear height structure totaling 283,860 square feet and two buildings with 40-foot clear heights encompassing 1.1 million square feet. The industrial park features 185-foot truck courts, 266 dock-high doors as well as 10 drive-up ramps.

Intermodal Commerce Park has a total of 641 parking spaces and 325 trailer parking stalls. The industrial park is some 2 miles from BNSF Railway’s Alliance Intermodal Facility as well as Fort Worth Alliance Airport.