LBA Realty Expands DFW Industrial, Office Footprint
The California-based company purchased a portfolio incorporating more than 500,000 square feet of warehouse space, as well as a 53,600-square-foot office asset in Coppell, Texas.
By Razvan Cimpean
500 Airline Drive in Coppell, Texas
LBA Realty has acquired two warehouse/distribution facilities and an office building in Coppell, Texas, from affiliates of Transpacific Development Co. The portfolio totals roughly 578,000 square feet. At the time of sale, the assets were fully leased.
The two industrial assets are the 409,600-square-foot 500 Airline Drive, which can be expanded to add up to 102,400 square feet of additional warehouse space, and the 115,200-square-foot 217 Wrangler Drive, located about one mile apart. The 53,600-square-foot office building is situated at 510 Airline Drive and is connected to the largest facility in the portfolio. According to Yardi Matrix data, the industrial properties feature a total of six grade-level and 51 dock-high loading doors. The assets are situated next to Interstate 635 and offer convenient access to Dallas/Fort Worth International Airport.
JLL International Director John Huguenard and Senior Vice President Dustin Volz negotiated the deal on behalf of the seller.
Last November, LBA Realty also purchased a 423,000-square-foot Nevada distribution center.
Image courtesy of JLL
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