Key Takeaways
- • A fund sponsored by CBRE Investment Management, formerly CBRE Global Investors, acquired 820 Exchange, a 952,764-square-foot logistics park in Haltom City outside Fort Worth.
- • The park comprises four newly constructed Class A logistics assets that are 72 percent leased to three tenants.
- • The acquisition is part of CBRE Investment Management's sector-specific logistics strategy, which includes a Tracy, California development with Trammell Crow Co. and a joint venture with Duke Realty Corporation covering Atlanta, Baltimore, and Chicago assets.
- • Mary Lang, Head of Americas Direct Logistics Strategies and Portfolio Manager at CBRE Investment Management, described the asset as a premier in-fill location with interstate frontage in a land-constrained submarket.
Summary
A fund sponsored by CBRE Investment Management, formerly known as CBRE Global Investors, has acquired 820 Exchange, a 952,764-square-foot logistics park located in Haltom City, outside Fort Worth, according to D Magazine. The property consists of four newly constructed Class A logistics assets and is currently 72 percent leased to three tenants. The purchase price was not disclosed in the source material.
The transaction is consistent with CBRE Investment Management's recent creation of a globally aligned sector-specific logistics team and its stated commitment to scaling logistics efforts. Other recent acquisitions under this focus include a development site in Tracy, California, where the firm plans to build a logistics center in partnership with Trammell Crow Co., and a portfolio of logistics assets in Atlanta, Baltimore, and Chicago acquired through a joint venture with Duke Realty Corporation.
Mary Lang, Head of Americas Direct Logistics Strategies and Portfolio Manager for CBRE Investment Management, said the asset is one of the newest developments in a land-constrained submarket and offers an in-fill location with interstate frontage and immediate access to major consumer and labor populations.
The article also covered a range of other North Texas commercial real estate transactions reported in the same roundup, including industrial, multifamily, office, and retail deals, but these are separate from the CBRE acquisition.
The transaction is consistent with CBRE Investment Management's recent creation of a globally aligned sector-specific logistics team and its stated commitment to scaling logistics efforts. Other recent acquisitions under this focus include a development site in Tracy, California, where the firm plans to build a logistics center in partnership with Trammell Crow Co., and a portfolio of logistics assets in Atlanta, Baltimore, and Chicago acquired through a joint venture with Duke Realty Corporation.
Mary Lang, Head of Americas Direct Logistics Strategies and Portfolio Manager for CBRE Investment Management, said the asset is one of the newest developments in a land-constrained submarket and offers an in-fill location with interstate frontage and immediate access to major consumer and labor populations.
The article also covered a range of other North Texas commercial real estate transactions reported in the same roundup, including industrial, multifamily, office, and retail deals, but these are separate from the CBRE acquisition.
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