W. P. Carey Expands in Dallas With 757 KSF Purchase
The warehouse recently opened next door to a solar manufacturing facility.
W. P. Carey has acquired 2800 Skyline Drive, a Class A, 756,668-square-foot industrial distribution center in Mesquite, Texas, in the East Dallas submarket. JLL Capital Markets represented the seller, Capstar Real Estate Advisors.
JLL also arranged the joint venture equity partnership for the project in early 2024. Before completion in September 2025, the property had already been preleased to Canadian Solar—a major solar technology and renewable energy company based in Canada. At the time of sale, the company had 10 years of lease term remaining.
Capstar developed the project on 40.4 acres with 40-foot clear heights, 185-foot truck courts and 96 loading doors with 29 dock levelers. Canadian Solar has a manufacturing facility next door at 3000 Skyline Drive, a $250 million manufacturing plant situated on 91 acres. The two properties are connected through a climate-controlled corridor to facilitate product transfer between the two spaces.
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Currently, the properties are undergoing a tenant-funded investment, which includes power capacity improvements and additional expansion. As the facilities are within one mile of the Union Pacific Intermodal Terminal, when the expansion project is completed, Canadian Solar will receive materials directly from the terminal for better supply chain operations.
The distribution center is located near Interstate 635 and Route 80. Built in Mesquite, Texas, the property is approximately 11 miles outside of Dallas and 34 miles from the Dallas-Fort Worth International Airport. The Mesquite Metro Airport is within 7.5 miles from the property.
The JLL team leading the acquisition included Executive Chairman Jody Thornton, Industrial Group Co-Head & Senior Managing Director Trent Agnew, Senior Director Tom Weber, Director Pauli Kerr, and Analysts Ben Pollack and Michael Jankovich.
Dallas remains an industrial leader
The Dallas industrial market continues to rank among the top markets for industrial deliveries, with the completion of 29.1 million square feet across 114 projects in 2024. According to the latest Yardi Matrix report on Dallas, the metro has brought 9 million square feet to market in 2025 through July. The same report shows a current construction pipeline of almost 30.5 million square feet, which will likely keep Dallas among the top markets for industrial deliveries this year. Absorption also remains healthy, according to JLL research. In the third quarter, Dallas was the only market nationwide to exceed 5 million square feet of positive net absorption. JLL also expects the vacancy rate to decline through the first half of 2026, as demand continues.
In September, Creation Equity and PGIM Real Estate received a $65.5 million construction loan for 635 Exchange, a 595,688-square-foot industrial project in Dallas. Development plans were announced in December 2024. Upon completion in October 2026, 635 Exchange will comprise three buildings.
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