Denton business park goes to California investor
The business park is leased to tenants including DHL Supply Chain, Lowe’s Home Centers and Muenster Milling Co.“We seized on the opportunity to acquire these fully leased, Class A assets during a period of uncertainty in the capital markets,” Westcore managing director Hack Adams said in a statement. “We are extremely excited to be adding to our Texas industrial portfolio, which now totals 5 million square feet.
Founded in 2000, Westcore has a track record of almost $10 billion in properties. The firm also has offices in Los Angeles, Oakland, Calif., and Dallas.“Denton’s location at the convergence of I-35E and I-35W continues to drive high user demand,” CBRE’s Jonathan Bryan said in a statement. Bryan, Randy Baird, Ryan Thornton, Nathan Wynne, Eliza Bachhuber and Taylor Hare with CBRE brokered the sale.
Denton has been one of North Texas’ fastest-growing industrial markets with more than 4 million square feet of buildings under construction at the end of 2022, according to CBRE.Related:
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