FORT WORTH – (Realty News Report) – Interstate Crossing, a newly constructed industrial property leased to Amazon, has been purchased by a real estate investment trust, according to the CBRE real estate firm.
The 1,023,488 SF distribution facility is located in Fort Worth’s Interstate Crossing development at 1851 NE Loop 820
CBRE Team
CBRE’s Jack Fraker, Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber with CBRE National Partners represented the seller, Hunt Southwest Real Estate Development, LLC, in the transaction.
“Beyond its state-of-the-art construction, Interstate Crossing drew heavy interest from the capital markets based on its best-in-class tenancy and its infill location within one of the largest and most active industrial markets in the nation. The sale of Interstate Crossing, originally developed as a speculative project, resulted in a significant and positive outcome for our stakeholders, the Lamar Hunt Family,” said Hunt Southwest President T. Preston Herold.
Hunt Southwest developed the project, along with its strategic location along Interstate 820 and Interstate 35W, have positioned it well to compete with other top-tier industrial buildings in the market. The facility features 40’ clear heights, 100 percent HVAC in the office and warehouse, ample trailer and auto parking with expansion options, and 195-foot truck courts.
Class A+ Physical Specifications
Located at 1851 NE Loop 820, Interstate Crossing’s Class A+ physical specifications, along with its strategic location along Interstate 820 and Interstate 35W, have positioned it well to compete with other top-tier industrial buildings in the market. The facility features 40’ clear heights, 100% HVAC in the office and warehouse, ample trailer and auto parking with expansion options, and 195’ truck courts.
Located within the North Fort Worth submarket, Interstate Crossing is near high population growth and vast labor pools. The location along Interstate 820 and Interstate 35W is undergoing major infrastructure investments over the next two years, which will drive industrial demand in the area into the future.
According to CBRE’s U.S. Industrial & Logistics Figures for Q1 2021, the industrial market shows no signs of slowing down. Companies are leasing space at a historically robust pace to accommodate the large increase in e-commerce sales. On a national basis, nearly 100 million SF of industrial space was absorbed in Q1, the third highest mark on record.
Fort Worth: Ground Zero for Industrial Boom
Fort Worth has been a hotbed of new industrial construction.
Last year, Clarion Partners and Crow Holdings Capital in partnership with Rob Riner Companies acquired 556 acres in Fort Worth for the development of a 7 million SF project called Carter Park East. Seth Koschak, Forrest Cook, and Jeff Rein with Stream Realty Partners were named to lease the gigantic multi-phase project.
In another recent Fort Worth transaction, Dalfen Industrial acquired a 100 percent occupied, 98,666-SF property in the city of White Settlement in the West Fort Worth area. The property is next to the Lockheed Martin Aeronautics headquarters where military aircraft are manufactured including the F-35, F-22, F-16, C-130, and U-2. Built in 2017, West Tarrant Distribution Center is located at 1403 S Cherry Lane, near the I-820 Loop.
And of course, Ross Perot Jr.’s Hillwood organization has the 26,000-acre Alliance Airport development located 14 miles north of downtown Fort Worth.
May 24, 2021 Realty News Report Copyright 2021
Image: Courtesy CBRE
File: Hunt Southwest Sells Amazon Distribution Facility in Fort Worth
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