Holt Lunsford Sells DFW Industrial Park

Southlake Business Park

Holt Lunsford Commercial Investments has sold Southlake Business Park, a 182,129-square-foot industrial asset in the Dallas-Fort Worth submarket of Southlake. CBRE Global Investors bought the asset for one of its international investment funds, while JLL represented the seller.

Southlake Business Park encompasses three singe-story buildings across roughly 12.7 acres at 415, 419 and 423 Bank St. The property offers 24- to 28-foot clear heights, 63 dock-high doors, a 169-foot truck court, as well as a parking ratio of 1.45 spaces per 1,000 square feet.

The infill light industrial park came online last year and was fully leased to six tenants at the time of the transaction. Earlier this year, Technical Transportation signed a 39,812-square-foot lease at the property. The tenant roster also includes Imer Group USA, a construction equipment provider.

The park is roughly 6 miles from Dallas-Fort Worth International Airport and offers easy access to state highways 114 and 121. Downtown Dallas and Fort Worth are both roughly 24 miles from the property.

The JLL Industrial Capital Markets team that arranged the transaction included Senior Managing Director Dustin Volz, Managing Director Stephen Bailey, Director Dom Espinosa and Analysts Matthew Barge and Wesley Gilmer.

DFW Industrial looking up

The Dallas-Fort Worth market registered 16.6 million square feet in industrial leases during the second quarter of 2021, a recent JLL report shows. Demand for distribution centers rose as e-commerce expanded due to COVID-19 social distancing policies, making available infill locations scarce. The metro also continues to record one of the highest population increases nationwide.

When it comes to industrial development, Dallas leads the way across all U.S. markets, with 32.6 million square feet in the pipeline at the end of July, representing 4.0 percent of existing stock. The metro was well ahead of Chicago, which came in second, with 25.5 million square feet underway. Phoenix closed the top 3, with 23.4 million square feet, representing a whopping 8.9 percent of stock.