A California-based world investor is including to its Dallas-Fort Value actual property holdings with the acquisition of an industrial property north of Fort Value.
Ares Industrial Actual Property Belief purchased the Speedway Commerce Middle constructing at 16200 Three Vast Drive in Fort Value. Inbuilt 2018, the greater than 318,000-square-foot warehouse and distribution constructing is close to the Texas Motor Speedway off State Freeway 114.
Ares Industrial acquired the constructing from Atlanta-based developer Industrial Improvement Worldwide, deed information present.
Final summer season, Ares Administration expanded its industrial actual property enterprise with the acquisition of Denver-based Black Creek Group. Black Creek on the time of sale had greater than $11.6 billion in properties, together with a number of industrial websites in North Texas.
Together with the Speedway Commerce Middle constructing buy, Ares Industrial not too long ago made a growth settlement with developer Scannell Properties for a 118-acre enterprise park in Northlake, north of Fort Value.
Ares Administration is a greater than 20-year-old funding agency with greater than $325 billion in property.
The D-FW space is the nation’s high industrial constructing market with greater than 57 million sq. toes of warehouse area underneath growth. And the North Fort Value market has one of many largest concentrations of development, with 10 million sq. toes being constructed.