Clarion Partners Acquires Property From Crow Holdings At 206 Intermodal Pkwy In Fort Worth
206 Intermodal Pkwy, Haslet, TX, 76052
Building Size
1 SF
Asset Type
Industrial
Closing
Apr 26, 2022
AI
The property asset involved in the transaction is Intermodal Commerce Park, a fully leased industrial park located at 206 Intermodal Pkwy, Haslet, TX, 76052. The park comprises three buildings totaling 1.4 million square feet within AllianceTexas, a master-planned community. The industrial park features single-story buildings with a clear height structure of 36 feet and two buildings with 40-foot clear heights. Key features include 185-foot truck courts, 266 dock-high doors, 10 drive-up ramps, 641 parking spaces, and 325 trailer parking stalls.
Summary of transaction details:
- Property Type: Industrial Park
- Transaction Amount: Not specified
- Address: 206 Intermodal Pkwy, Haslet, TX, 76052
- Market: Fort Worth
- Seller: Crow Holdings
- Buyer: Clarion Partners
- Seller's Representative: Dustin Volz (Newmark)
- Additional Parties Involved: JLL Capital Markets arranged the sale
- Completion: Last quarter of 2021
- Leased to: H-E-B, Volkswagen, Prairie Industries, ANEW Business Solutions
The deal involved notable individuals and firms including the joint venture of Gruene Real Estate Partners, Weber & Co., and Crow Holdings Development. JLL Capital Markets facilitated the transaction with a team that included Dustin Volz, Stephen Bailey, Dom Espinosa, Wells Waller, and Jack Copher. This acquisition is part of a broader trend in the area, as demonstrated by KKR's previous acquisition of Alliance Northport, another industrial park within AllianceTexas.
Players
Fort Worth Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93