CanTex Capital has obtained a refinancing mortgage for Sylvania Industrial Park, an 893,738-square-foot industrial campus in Fort Value, Texas. JLL labored on behalf of the borrower to safe the three-year, floating-rate financing from MetLife Funding Administration.
The agency acquired the multi-tenant asset in November 2021 from Park Corp., in accordance with CommercialEdge info. The corporate took out a $32 million mortgage originated by Amherst Capital Administration for the acquisition.
The campus, which is the biggest crane- and rail-served industrial property in North Texas, got here on-line in 1938, in accordance with CommercialEdge info. Following the acquisition, CanTex upgraded the property by a number of capital enhancements.
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The buildings characteristic clear heights of as much as 50 ft, heavy energy, rail entry and out of doors storage. The commercial park is leased to fifteen firms together with TK Airport Options, JR New Power and Andes Coil Processors.
The campus is at 3201 N. Sylvania Ave., simply east of Interstate 35W. Downtown Fort Value is 4 miles away, whereas Dallas Fort Value Worldwide Airport is 26 miles northeast.
JLL Debt Advisory Senior Managing Director Jim Curtin, Senior Director Jarrod McCabe, Affiliate Luke Rogers and Analyst Jordan Buck led the group that organized the financing.
Dallas-Fort Value’s industrial sector stays robust
The commercial sector of Dallas-Fort Value remained robust within the first half of the yr, in accordance with a CommercialEdge industrial report. The metro’s improvement pipeline ranked second nationally, with 15.7 million sq. ft underneath building. Moreover, the emptiness fee clocked in at 6.5 % in June, simply 40 foundation factors above the nationwide common.
In Might, Hillwood landed ahead financing for Alliance Westport 25, a 1.2 million-square-foot industrial constructing in Fort Value, Texas. The ability, a part of the 27,000-acre AllianceTexas, got here on-line final yr.
