Realterm Buys DFW Last-Mile Facility

2400 Centennial Drive. Image courtesy of JLL Capital Markets

Realterm has expanded its last-mile portfolio with the acquisition of a newly upgraded warehouse in the Dallas-Fort Worth metro. Oxford Properties Group sold the 186,344-square-foot facility in Arlington, Texas. JLL Capital Markets arranged the sale of the asset, which is triple-net leased to Amazon.

Year-to-date through May, the industrial transaction volume across the Metroplex exceeded $1.4 billion, CommercialEdge data shows. During the same period, the average sale price was $94 per square foot, below the national average ($132 per square foot).

Recently, BentallGreenOak acquired the three-building initial phase of DFW Park 161, a logistics campus totaling 1 million square feet in Irving, Texas. Realterm is an active investor within the industrial sector. In June, the company completed the disposition of 20 last-mile facilities across 17 markets. Biynah Industrial Partners purchased the portfolio with the help of a $61 million acquisition loan.

In the same month, Realterm also picked up a 34,288-square-foot distribution center in Baltimore, Md., followed by the acquisition of a 71,835-square-foot warehouse in Brockton, Mass.

A warehouse fit for Amazon

Amazon moved into the 1987-built facility last year, after the property underwent a $10 million capital improvement plan in 2020.

The warehouse sits on more than 15.5 acres at 2400 Centennial Drive and features a 29-foot clear height, 10 dock-high doors, a deep truck court, 338 van parking spaces and ample car parking.

The last-mile facility near the GM Arlington Manufacturing Complex is easily accessible, with Interstate 30 less than 3 miles away and Interstate 20 within roughly 5 miles. Grand Prairie Municipal Airport is within less than 5 miles, while Dallas-Fort Worth International Airport is 12 miles north.