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HFF Closes an Expansive Industrial Properties Portfolio for Both the Dallas and Houston Areas

Tuesday, May 12, 2015

Industrial Portfolio Dallas and HoustonHolliday Fenoglio Fowler, L.P. (HFF) recently closed the sale of a 27-building, 2.35 million-square-foot, 95.6-percent leased industrial portfolio located in the Dallas-Fort Worth area and Houston, Texas.

HFF marketed the portfolio on behalf of the seller, a partnership between Mayfield Properties, LP and AB Real Estate Group. A private fund advised by Crow Holdings Capital – Real Estate (CHC-RE) purchased the assets for an undisclosed amount.

The eight Dallas-Fort Worth properties feature:

  • Locations in the DFW Airport North, Great Southwest, Valwood and West Brookhollow industrial markets.
  • 11 buildings, 98.1 percent leased, totaling 1.015 million square feet.
  • Facilities located at 1375 Avenue South and 1002 Avenue T in Grand Prairie; 2400 Centennial Drive in Arlington; 5101 Statesman Drive in Irving; 1625 Vantage Drive in Carrollton; 12901 Nicholson Road (three buildings) in Farmers Branch; 601-625 Mockingbird Road (two buildings) in Dallas and 8601 Ambassador Row in Dallas

The eight Houston facilities are located in the Northwest and Southwest industrial markets and feature 16 buildings spanning 1.335 million square feet, and a 93.6-percent leased industrial warehouse portfolio.The portfolio consists of the following buildings:

  • 1801 West Sam Houston Parkway property
  • Two-building Greengrass Drive facility at 1401-1431 and 1501-1527 Greengrass Drive
  • 401-421 West Crosstimbers Street
  • Four-building Willowbrook facility with 8270 and 8280 Willowbrook Place North, 9305-9323 Millsview Road and 13161-13175 Misty Willow Drive
  • Two-building Wynnwood Park at 7215 Wynnwood Lane and 7240 Wynnpark Drive in Houston
  • Three-building Julie Rivers property at 505 and 525 Julie Rivers Road and 12505 Reed Road in Sugar Land
  • Two Corporate IV buildings at 12603 and 12613 Executive Drive and the 4000 Greenbriar property in Stafford.

The HFF investment sales team representing the seller was led by senior managing directors Randy Baird and Rusty Tamlyn, managing director Jud Clements and directors Trent Agnew and Robby Rieke.

HFF's Dallas and Houston offices have been closing industrial properties transactions as both cities keep expanding economically. Both recognized as CoStar Power Brokers 2014, each office has been rated as the No. 1 Capital Markets Intermediary during 2014 by Mortgage Bankers Association in their respective cities.

About Mayfield Properties, LP

Mayfield Properties, LP, is a Texas limited partnership formed by industry veterans John Jenkins and Jim Jones to acquire industrial and commercial properties in major markets throughout the Southern half of the United States. The company targets industrial, distribution and warehouse properties between $4 million and $100 million in size with a geographic focus in established industrial markets throughout the southwest, southeast and midwest United States. Mayfield is focused on acquiring assets below replacement cost with an additional focus on sustained functionality. Since 2010, Mayfield has acquired 8 million square feet of existing industrial assets in Dallas, Houston, San Antonio, Memphis and Atlanta.

About AB Real Estate Group

In September of 2009, AllianceBernstein, LP (AB) formed the Real Estate Group in order to build out a preeminent private equity real estate platform by leveraging the firm's current resources and existing infrastructure. The Real Estate Group currently manages discretionary equity funds totaling approximately $2 billion in capacity designated for real estate acquisition and related activities.

About Crow Holdings Capital – Real Estate

Beginning in 1998, Crow Holdings (the predecessor to CHC-RE) sponsored the first of eight real estate private equity funds. Over the past 17 years, the funds have raised over $4.9 billion in equity commitments including over $800 million in equity commitments from Crow Family Holdings. Outside investors include endowments, foundations, public and private pension funds, financial institutions and high net worth individuals. The funds have actively acquired existing properties and development parcels of all types, both independently and with operating partners. As of March 31, 2015, these real estate funds have acquired or developed more than $14.6 billion in assets comprised of over 64 million square feet of industrial, over 13 million square feet of retail, over 9 million square feet of office, over 30,000 multi-family units, 387 convenience and gas stores, over 8,200 hotel rooms and almost 6,000 acres of lot development.


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