PS Business Parks Acquires Industrial Property In Grapevine For $123M

Stockbridge Capital Group has recently sold an industrial property located at 749 Port America Place in Grapevine. The property spans 717,735 square feet and sits on a 50-acre lot. The sale price for this transaction was $123,000,000, resulting in a price per square foot of $171 and a price per acre of $2,460,000.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $123,000,000
• Date: 09/02/2021
• Address: 749 Port America Place
• Market: Grapevine
• Seller: Stockbridge Capital Group - Mark Carlson
• Buyer: PS Business Parks - Mac Chandler

Mark Carlson of Stockbridge Capital Group represented the seller in this transaction, while Mac Chandler of PS Business Parks represented the buyer. This sale marks a significant transaction in the Grapevine industrial market, showcasing the demand and value in the area.