HOUSTON – (Realty News Report) – Exeter Property Group paid $148 million to acquire a 20-building, Class A, light industrial portfolio totaling 1.25 million SF in Dallas and Houston, Texas, and Charlotte, North Carolina.
The HFF team marketed the property on behalf of the seller, Adler Real Estate Partners.
The portfolio comprises Cardinal Park in Dallas; three properties in Houston, Bammel Business Park, Business Center at Park 10 and Legacy Park; and Shopton Ridge in Charlotte. All five properties are situated ininfill submarkets with strong tenant demand.
The HFF investment advisory team representing the seller included managing director Adam Herrin and director Stephen Bailey along with senior managing directors Rusty Tamlyn and Chris Norvell, managing director Trent Agnew and director Patrick Nally.
Exeter Property Group, based in Philadelphia, is a real estate investment manager focused on industrial properties and portfolios across North America and Europe.