JLL Capital Markets announced today that it has closed the sale of the Logistics Center at McKinney Building B, a Class-A, 301,796-square-foot industrial building in McKinney, Texas.
JLL represented the seller, a joint venture between Thor Equities Group and Morgan Stanley, in the sale to AC Industrial Properties LLC.
Logistics Center at McKinney Building B is a rear-load building featuring 32-foot clear heights, 130-foot truck court, 52 overhead doors, two drive-in doors and 190 parking spaces.
The property is situated on 16.82 acres at 350 Cypress Hill Drive with direct access to Dallas-Fort Worth and Texas’s major commercial hubs via U.S. 75, Highway 380 and State Highway 121. As a result, Logistics Center at McKinney Building B is within 20 miles of 1.46 million residents. Furthermore, the building is located five miles from McKinney National Airport.
Logistics Center at McKinney Building B benefits from its position in the Northeast Dallas Industrial submarket, which accounts for approximately 20% of the submarket’s total inventory. Vacancy within the submarket is now below the market average. Most new development is occurring in the outlying areas of the submarket, such as McKinney and Frisco. Last-mile tenants are relocating to these fast-growing suburbs following the population growth that has occurred over the past two decades.
The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Directors Dom Espinosa and Zach Riebe and Analyst Pauli Kerr.