Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Riverbend West Distribution Center, a 301,500-square-foot, Class A, cross-dock industrial facility in Fort Worth, Texas.
The HFF team marketed the property on behalf of the seller, Hunt Southwest Real Estate Development. Pure Industrial Real Estate Trust purchased the portfolio free and clear of existing debt.
Riverbend West was completed in 2016 with best-in-class construction and features 32-foot clear heights, 76 overhead dock doors and four drive-in doors in addition to LED warehouse lighting. The facility is 86 percent leased to Ecolab and PODS. Situated on 16.7 acres at 2101 Reeves Place and 2152 Riverbend West Drive, the facility is located in an infill location in the East Fort Worth industrial submarket. North and East Fort Worth have seen tremendous leasing activity and strong investor interest from large institutional owners across the globe.
The HFF investment advisory team included managing director Adam Herrin and director Stephen Bailey.
Holliday GP Corp. is a Texas licensed real estate broker.
About Hunt Southwest Real Estate Development
Hunt Southwest Real Estate Development is a Dallas-based, full-service real estate development company with a focus on industrial, office, retail, mixed-use, multifamily and residential real estate development in the Texas market.
Hunt Southwest is a joint venture between Hunt Midwest and Unity Hunt. It is the second real estate development enterprise founded by the Lamar Hunt family, following the success of Hunt Midwest, which was established in 1985. The Hunt family business is a diverse portfolio of entities involved in real estate, sports/media, energy/resources, private equity and investments. Other marquee entities include the Kansas City Chiefs, FC Dallas Soccer Club, Toyota Stadium, Chicago Bulls and United Center. Visit https://huntsouthwest.com for more information.
About Pure Industrial Real Estate
Pure Industrial Real Estate Trust is an unincorporated, open-ended investment trust that owns and operates a diversified portfolio of income-producing industrial properties in leading markets across Canada and key distribution and logistics markets in the United States. The trust is an internally managed REIT and is one of the largest publicly-traded REITs in Canada that offers investors exposure to industrial real estate assets in Canada and the United States. Additional information about the Trust is available at http://www.piret.ca orwww.sedar.com.
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information please visithfflp.com or follow HFF on Twitter @HFF.