Cavender's Acquires 610,622-Square-Foot Industrial Facility In Wilmer Texas From Ares Management With Truist Bank Financing

Ares Management sold the 610,622-square-foot Tradepoint 45 East warehouse located at 601 Distribution Drive in Wilmer, Texas. This industrial asset was developed in 2022 by Champion Partners and Rosewood Property Co. The facility features 40-foot clear heights, 112 dock doors, and 215 trailer stalls, strategically positioned near Union Pacific’s Dallas Intermodal Facility.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $42.3 million
• Buyer: Cavender’s
• Seller: Michael Arougheti - Ares Management
• Lender: Truist Bank

The transaction saw Cavender’s acquire the property with financial support from Truist Bank. Michael Arougheti, representing Ares Management, played a crucial role in facilitating the sale. The warehouse is part of an area that is significant for logistics and distribution due to its proximity to major transport facilities.