Stonelake Capital Partners recently acquired a 119,995-square-foot distribution center in the Metroplex area. The acquisition was facilitated by Cushman & Wakefield on behalf of the seller, a joint venture between Bessemer Trust and Hersch & Co. Litex Industries is the sole tenant of the property.
Located at 4400 Diplomacy Road within the 1,300-acre CentrePort Business Park, the Class B, one-story asset boasts features such as 24-foot clear heights, rail doors, 11 dock-high doors, one grade-level door, dock levelers, bumpers, and 105 vehicle parking spots, according to CommercialEdge.
This 6.4-acre property offers easy access to Airport Freeway and Texas 183 TEXpress Toll Road. Situated approximately 4 miles from Dallas Fort Worth International Airport, 10 miles from Arlington, Texas, 15 miles from Dallas Love Field Airport, and within 20 miles of downtown Fort Worth.
Cushman & Wakefield’s Vice Chairman Jim Carpenter, Executive Managing Director Jud Clements, Executive Director Robby Rieke, and Director Madeleine Supplee represented the seller in the transaction. Stonelake Capital Partners was represented internally by Partner Coleman Brown, Managing Director of Investments Michael Massad, Associate Will Thomas, and Analyst Keontae Burns.
In other recent Texas real estate news, Sterling Investors purchased two Class A industrial buildings totaling over 840,000 square feet, with GLP Capital Partners selling CentrePort 2 in Fort Worth and Northwest Logistics Center in Houston. Additionally, a real estate fund advised by Crow Holdings Capital, along with Creation Equity, sold Northmark Commerce Center in Haltom City, Texas, a 234,475-square-foot facility that is fully occupied by a single tenant.
