{"id":1004453017,"date":"2020-05-29T04:51:36","date_gmt":"2020-05-29T12:51:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004453017"},"modified":"2020-05-29T04:51:36","modified_gmt":"2020-05-29T12:51:36","slug":"cim-group-buys-1-1-msf-fort-worth-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cim-group-buys-1-1-msf-fort-worth-industrial-asset\/","title":{"rendered":"CIM Group Buys 1.1 MSF Fort Worth Industrial Asset"},"content":{"rendered":"<div id=\"attachment_1004453026\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Junction-20-35-South-Fort-Worth-Texas.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004453026\" data-attachment-id=\"1004453026\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cim-group-buys-1-1-msf-fort-worth-industrial-asset\/junction-20-35-south-fort-worth-texas\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Junction-20-35-South-Fort-Worth-Texas.jpg\" data-orig-size=\"800,599\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Junction 20-35, South Fort Worth, Texas\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Junction 20-35. Image courtesy of CIM Group&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Junction-20-35-South-Fort-Worth-Texas.jpg?w=800\" class=\"wp-image-1004453026 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Junction-20-35-South-Fort-Worth-Texas.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Junction-20-35-South-Fort-Worth-Texas.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Junction-20-35-South-Fort-Worth-Texas.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Junction-20-35-South-Fort-Worth-Texas.jpg?resize=768,575 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004453026\" class=\"wp-caption-text\">Junction 20-35. <em>Image courtesy of CIM Group<\/em><\/p><\/div>\n<p>CIM Group remains active in the <a href=\"https:\/\/www.commercialsearch.com\/news\/how-covid-19-is-affecting-investment\/\">pandemic-era investment market<\/a> with the acquisition of Junction 20\/35, a 1.1 million-square-foot industrial property in South Fort Worth, Texas. CIM purchased the warehouse-distribution center from Provender Partners for an undisclosed amount.<\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/how-to-underwrite-real-estate-acquisitions-during-volatile-markets\/\">How to Underwrite Real Estate Acquisitions During Volatile Markets<\/a><\/p>\n<hr>\n<p>Previously known as Provender Logistics Center, Junction 20\/35 occupies roughly 90 acres at 7550 Oak Grove Road within the Carter Industrial Park. The rail-served property opened as a purpose-built facility in 1989 and has since undergone a series of renovations to maintain a high quality. In addition to cold and dry storage, Junction 20\/35 offers the potential for expansion through an adjacent 14.4-acre land parcel. Currently, the freezer\/cooler segment of the facility is fully leased to McLane Co. Inc. through May 2029.<\/p>\n<p><em>\u201cWell-located warehouse distribution centers such as Junction 20\/35, play a pivotal role in the transport of goods,&#8221;<\/em> Terry Wachsner, a principal with CIM Group, told <em>Commercial Property Executive<\/em>. <em>&#8220;With its dry and cold storage and its proximity to major highways, railways, and nearby airports, Junction 20\/35 serves the needs of companies meeting demand for food distribution as well as other goods locally, regionally, or nationally.\u201d<\/em>&nbsp; According to Tarrant County records, Junction 20\/35 has a 2020 appraised value of approximately $50.2 million.<\/p>\n<h2><strong>Business as usual<\/strong><\/h2>\n<p>CIM Group has continued to buy and build throughout the COVID-19 health crisis in the U.S., seemingly undiscouraged by the impact the pandemic-related shutdown orders have had on some properties. In late April, the company announced it had <a href=\"https:\/\/www.commercialsearch.com\/news\/los-angeles-mall-to-land-new-owner\/\">signed a purchase and sale agreement<\/a> to acquire the 869,000-square-foot Baldwin Hills Crenshaw Plaza, a Los Angeles regional shopping mall that saw its Sears and Walmart anchors succumb to the retail apocalypse well before the coronavirus emerged. And in a sign of its faith in the office sector, CIM Group announced just one week ago that it plans to open the new 182,700-square-foot Fifth + Tillery creative office building in Austin, Texas, in July of this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has purchased Junction 20\/35, a warehouse-distribution center featuring dry and cold storage.<\/p>\n","protected":false},"author":969,"featured_media":1004453026,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21748,21742],"tags":[33194,32914],"class_list":["post-1004453017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-deals","category-industrial","category-latest","tag-cim-group","tag-e-commerce"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CIM Group Buys 1.1 MSF Fort Worth Industrial Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cim-group-buys-1-1-msf-fort-worth-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIM Group Buys 1.1 MSF Fort Worth Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"The company has purchased Junction 20\/35, a warehouse-distribution center featuring dry and cold storage.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cim-group-buys-1-1-msf-fort-worth-industrial-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-29T12:51:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Junction-20-35-South-Fort-Worth-Texas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"599\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-buys-1-1-msf-fort-worth-industrial-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-buys-1-1-msf-fort-worth-industrial-asset\/\",\"name\":\"CIM Group Buys 1.1 MSF Fort Worth Industrial Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-buys-1-1-msf-fort-worth-industrial-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-buys-1-1-msf-fort-worth-industrial-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Junction-20-35-South-Fort-Worth-Texas.jpg\",\"datePublished\":\"2020-05-29T12:51:36+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-buys-1-1-msf-fort-worth-industrial-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cim-group-buys-1-1-msf-fort-worth-industrial-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-buys-1-1-msf-fort-worth-industrial-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Junction-20-35-South-Fort-Worth-Texas.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Junction-20-35-South-Fort-Worth-Texas.jpg\",\"width\":800,\"height\":599,\"caption\":\"Junction 20-35. 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