Sunday, January 17, 2021
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2.3 million-square-foot flatbed distribution and fulfillment facility in the Dallas Global Industrial Center

Address 922 West Jefferson Boulevard, Dallas, TX, USA
City/State: Grand Prairie, Texas - TX
Size: 2,300,000 SqFt
Property type: Industrial
Status: SOLD
Transaction Date: 10/26/2020
Buyer: VEREIT Inc., Korea Investment Management Co.
Price: $246,700,000
Price per unit /sqft: $107

Korea Investment, which owns an 80 percent stake in the venture, is advised by Ocean West Capital Partners. The venture bought the property, developed specifically for and occupied by Home Depot Inc. under a lease with at least 20 years of term, from NorthPoint Development, which retained an interest. The sale was brokered by CBRE National Partners.The property was developed on the site of the former Vought Aircraft Plant, which opened in 1940 and until 2013 was used to manufacture military aircraft, including the B-1 bomber and F-22 Raptor. The property, at 9222 West Jefferson Blvd. in Grand Prairie, Texas, is comprised of an 800,000-sf flatbed distribution facility, through which the home improvement retailer receives and funnels heavy items, such as lumber, roofing material and pipes to distribution centers, and a 1.5 million-sf fulfillment center.

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