{"id":1004724023,"date":"2024-08-05T03:07:42","date_gmt":"2024-08-05T11:07:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004724023"},"modified":"2024-08-05T03:07:44","modified_gmt":"2024-08-05T11:07:44","slug":"cbre-im-buys-dallas-fort-worth-logistics-trio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-im-buys-dallas-fort-worth-logistics-trio\/","title":{"rendered":"CBRE IM Buys Dallas-Fort Worth Logistics Trio"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/mckinney-national-business-park.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004724033\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-im-buys-dallas-fort-worth-logistics-trio\/mckinney-national-business-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/mckinney-national-business-park.jpg\" data-orig-size=\"1200,900\" 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;0&quot;}\" data-image-title=\"mckinney-national-business-park\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/mckinney-national-business-park.jpg?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/mckinney-national-business-park.jpg?w=1024\" alt=\"McKinney National Business Park\" class=\"wp-image-1004724033\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/mckinney-national-business-park.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/mckinney-national-business-park.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/mckinney-national-business-park.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/mckinney-national-business-park.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">Phase One of McKinney National Business Park comprises three logistics buildings. <em>Image courtesy of CBRE Investment Management<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A fund sponsored by CBRE Investment Management has acquired the first phase of McKinney National Business Park, a three-building, 481,000-square-foot group of Class A logistics properties in metro Dallas\u2013Fort Worth.<\/p>\n\n\n\n<p>The seller was the project\u2019s developer, Transwestern Development Co., and the buyer was the CBRE Strategic Partners U.S. Value 9 fund. Newmark facilitated the transaction.<\/p>\n\n\n\n<p>The three buildings were fully leased to five tenants at the time of sale, the roster being focused on local fulfillment distribution. The facilities feature 125 dock-high doors, ESFR sprinklers and LED lighting. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-development-pipeline-slows-down\/\">Industrial Development Pipeline Shrinks<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The park&#8217;s Phase One, at 1001 Harry McKillop Blvd. in McKinney, Texas, came online in 2022, according to CommercialEdge, after <a href=\"https:\/\/www.commercialsearch.com\/news\/transwestern-breaks-ground-on-2-msf-of-dfw-spec-industrial\/\">ground was broken in December 2021<\/a>. The 64-acre McKinney National Business Park was designed to comprise five buildings totaling 945,500 square feet and be developed in two phases east of U.S. Route 75.<\/p>\n\n\n\n<p>\u201cThe U.S. Route 75 corridor north of McKinney is experiencing a significant uptick in semiconductor and other manufacturing activities,\u201d Topper Sheehy, senior director of logistics transactions for CBRE IM, told <em>Commercial Property Executive<\/em>.<\/p>\n\n\n\n<p>He added that their strategy is \u201cto focus on areas of population growth with strong labor and consumer demographics, coupled with manufacturing tailwinds. The combination of these three factors will benefit McKinney National Business Park.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-creeping-vacancies\">Creeping vacancies<\/h2>\n\n\n\n<p>Industrial absorption in the Metroplex totaled nearly 6.9 million square feet in the second quarter, according to a recent report from CBRE. Deliveries in the quarter added up to almost 8.6 million square feet, and only about 12 percent of that was preleased. As a result, overall vacancy crept up by 30 basis points to 9.8 percent.<\/p>\n\n\n\n<p>CBRE commented, \u201cthere was a significant amount of under construction starts (14.3 million square feet) most of which are not preleased.\u201d<\/p>\n\n\n\n<p>In late June, Logistics Property Co. <a href=\"https:\/\/www.commercialsearch.com\/news\/logistics-property-co-signs-550-ksf-tenant-near-dallas\/\">landed a full-building, 550,000-square-foot tenant<\/a>, a Specialty Building Products brand, at its Southern Star Logistics Park in Midlothian, Texas, near Dallas. The lease also covers 25 acres of adjoining outdoor storage. CBRE represented the ownership, while Cresa represented the tenant.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Class A buildings came online less than two years ago.<\/p>\n","protected":false},"author":882,"featured_media":1004724033,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21748,21783,21742,51973],"tags":[51764,33313],"class_list":["post-1004724023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-industrial","category-investment","category-latest","category-southwest","tag-cbre-investment-management","tag-transwestern"],"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>CBRE IM Buys Dallas-Fort Worth Logistics Trio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"A fund sponsored by CBRE Investment Management acquired the first phase of McKinney National Business Park in McKinney, Texas, near Dallas.\" \/>\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\/cbre-im-buys-dallas-fort-worth-logistics-trio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE IM Buys Dallas-Fort Worth Logistics Trio\" \/>\n<meta property=\"og:description\" content=\"A fund sponsored by CBRE Investment Management acquired the first phase of McKinney National Business Park in McKinney, Texas, near Dallas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbre-im-buys-dallas-fort-worth-logistics-trio\/\" \/>\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=\"2024-08-05T11:07:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-05T11:07:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/mckinney-national-business-park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\/cbre-im-buys-dallas-fort-worth-logistics-trio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbre-im-buys-dallas-fort-worth-logistics-trio\/\",\"name\":\"CBRE IM Buys Dallas-Fort Worth Logistics Trio - 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He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/mckinney-national-business-park.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004724023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004724023"}],"version-history":[{"count":8,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004724023\/revisions"}],"predecessor-version":[{"id":1004724045,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004724023\/revisions\/1004724045"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004724033"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004724023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004724023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004724023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}