– HFF announced today that it has closed the sale of a two-property, 754,554-square-foot, Class A industrial portfolio in the Dallas-Fort Worth metropolitan area.
HFF marketed the property on behalf the seller, Panattoni Development. Cabot Properties purchased the offering for an undisclosed amount free and clear of debt.
The portfolio includes Northlake Industrial Center, located just off Interstate 35 approximately three miles north of the Alliance Texas development, and Towne Lake Business Park Two, located immediately south of Dallas/Fort Worth International Airport. Built in 2008, both Class A buildings feature 32-foot clear heights and are 100 percent leased to Exel, CEVA Logistics and Falken Tire Corporation.
The HFF investment sales team representing the seller was led by senior managing director Randy Baird, managing director Jud Clements and director Robby Rieke.
Panattoni Development Company (www.panattoni.com) is a privately held, full service development company founded in 1986. The firm has completed in excess of 175 million square feet of commercial projects globally. Panattoni has developed industrial, office and flex facilities in 278 cities located in 29 states and 9 countries. The firm is headquartered in and maintains offices throughout the United States, Canada and Europe.
Cabot Properties is a private equity real estate investment firm. The firm is a leading investor, developer and operator of industrial properties throughout North America and the United Kingdom. Formed in 1986, Cabot has invested $5.2 billion in industrial real estate, managing and operating approximately 1,800 tenants in more than 125 million square feet.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.