CBRE announced the sale of Interstate Crossing, a newly constructed, 1,023,488 sq. ft. Class A+ distribution facility in Fort Worth, Texas.
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. A publicly traded REIT purchased the long-term leased fulfillment center for an undisclosed purchase price.
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.
“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.
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. Nearly 100 million sq. ft. was absorbed in Q1, the third highest mark on record.