1.4M SF Gateway Logistics Center Sold To Institutional Investor
The five-building 1.4M SF Gateway Logistics Center industrial park located at Dallas-Fort Worth International Airport changed hands this week.
Bandera Ventures and Long Wharf Capital sold the Class-A industrial park, which is situated in Irving at the south entrance of the airport, to an institutional investor tied to BentallGreenOak.
The logistics hub was completed in 2019.
The seller hired JLL's Dustin Volz, Stephen Bailey, Jody Thornton, Zach Riebe and Wells Waller to assist during negotiations.
Demand for DFW industrial space continued in 2020 even as other assets saw slowdowns in absorption and acquisitions.
The industrial sector marked its 40th consecutive quarter of positive net absorption even as the region continued to battle a coronavirus pandemic, Q3 2020 data from CBRE showed. DFW industrial absorption totaled 6.7M SF in Q3, bringing the total annual absorption rate through the third quarter to 14.9M SF.
