Industrial Building Near DFW Airport Sells
18 Jun, 2008, Dallas, TX
Tenants Include Dallas Cowboys Merchandising
Cushman & Wakefield of Texas, Inc., the premiere commercial real estate services firm in Dallas/Fort Worth, announces the sale of a 151,845-square foot Class A industrial building located at 1011 Royal Lane in DFW Airport, Texas. Kurt Griffin, Natalie Kampen and Wilson Stafford of Cushman & Wakefield represented the seller, Bandera Ventures, Ltd.
Cobalt Capital Partners purchased the building, which is 100% occupied and located on a ground lease at DFW Airport. Cobalt is a private real estate equity firm focused on the acquisition and ownership of high quality light industrial properties located in the United States.
“One of the challenges with this deal was the ground lease and how to underwrite that situation,” said Mr. Griffin, a senior director in Cushman & Wakefield’s Capital Markets Group. “Cobalt did a great job of understanding the value of the asset, and then performing on all the terms of the sale.”
1011 Royal Lane was built in 2005 by Bandera Ventures, Ltd., a real estate development and investment firm headquartered in Dallas, Texas. Current tenants include Dallas Cowboys Merchandising and Direct Logistics.
“This project was extremely well built and indicative of the type of quality assets developed by Bandera,” added Mr. Griffin. “It will provide tenants with an efficient operating environment and should continue to offer excellent investment upside to the new owners.”
Cushman & Wakefield is the world's largest privately-held commercial real estate services firm. Founded in 1917, it has 221 offices in 58 countries and more than 15,000 employees. The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies. It offers a complete range of services within four primary disciplines: Transaction Services, including tenant and landlord representation in office, industrial and retail real estate; Capital Markets, including property sales, investment management, valuation services, investment banking, debt and equity financing; Client Solutions, including integrated real estate strategies for large corporations and property owners, and Consulting Services, including business and real estate consulting. A recognized leader in global real estate research, the firm publishes a broad array of proprietary reports available on its online Knowledge Center at www.cushmanwakefield.com.
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