Net Lease REIT Buys Newly Delivered Distribution Center In Mesquite: The DFW Deal Sheet
A nearly 757K SF Mesquite distribution center completed in September has already been sold to a net lease REIT.
W.P. Carey purchased the 2800 Skyline Class-A industrial property from a joint venture involving Capstar Real Estate Advisors.
The distribution center sits on more than 40 acres at 2800 Skyline Drive and features 40-foot clear heights, 96 loading doors, 185-foot truck courts and 124 trailer parking stalls.
“Dallas-Fort Worth is one of the most dynamic industrial hubs in the U.S., and this newly constructed, Class A facility — with its modern specifications and strategic location — perfectly aligns with our investment approach,” W.P. Carey Vice President of Investments Boyd Borjiet said in a statement.
The facility is fully leased to a solar technology and renewable energy company with around 10 years of lease term remaining. It is also connected to the tenant's adjacent manufacturing building through a climate-controlled corridor.
Both buildings received significant tenant-funded investment and have additional expansion plans underway.
The JLL Capital Markets team of Jody Thornton, Trent Agnew, Tom Weber, Pauli Kerr, Ben Pollack and Michael Jankovich represented the seller.
“Investors remain highly focused on the East Dallas submarket given its proven track record of rent growth and occupancy performance,” Agnew said in a statement.
SALES
Whitestone Hospitality purchased the 108-room Comfort Suites hotel in Arlington from an affiliate of Waramaug Hospitality. The Comfort Suites Arlington-Entertainment District was renovated in 2023, with additional upgrades completed in early 2025. It is at 411 W. Road to Six Flags St. Marcus & Millichap’s Chris Gomes marketed the property on behalf of the seller and procured the buyer. The transaction received additional support from the firm’s Allan Miller.
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Marcus & Millichap announced the sale of the 34K SF Meadowcrest Corners retail property in North Richland Hills. Built in 1983, the fully leased Meadowcrest Corners is on 2.6 acres at 5306-5356 Rufe Snow Drive. Marcus & Millichap’s Philip Levy marketed the property on behalf of the seller and procured the buyer.
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Outrigger Industrial, in partnership with Longpoint Partners, completed the sale of a 304K SF industrial building at 400 Harry McKillop Blvd. in McKinney. M-75 Commerce Center, which was finished in 2024, is fully leased by a single tenant. Newmark’s Dustin Volz and Zach Riebe represented Outrigger Industrial and Longpoint Partners.
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Trailspur Capital Partners purchased the five-building industrial outdoor storage property at 13053 Gateway Alliance Drive in Fort Worth. The nearly 28K SF property sits on 19.6 acres. Marcus & Millichap’s Davis Cagle and Adam Abushagur marketed the property on behalf of the seller, North Texas Contracting Inc. They also secured the buyer along with the firm’s Cole Collins and Tyler Ranft.
CONSTRUCTION AND DEVELOPMENT
The NRP Group opened the 331-unit Diamond Flats luxury community in Carrollton. The development at 1402 Carrollton Parkway also features 5K SF of ground-floor retail. Diamond Flats was designed by Davies Architects with interiors by SJL Design Group.
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JPI completed the first two phases of a multifamily development totaling 903 units in downtown Frisco. Jefferson Railhead is at 10221 Whistle Stop Lane and is 60% leased. Jefferson Parkhouse is at 10450 Whistle Stop Lane and is 17% leased. Totaling $283.3M, the two projects received financial support from Simmons Bank, Texas Capital Bank, Happy State Bank, Heitman, Madera Residential and WayMaker. The third and final phase, which will bring 377 units, is being designed and is expected to break ground in 2026.
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A 128K SF Kroger Marketplace opened last week at 113 E. Bonds Ranch Road in Fort Worth.
It anchors the Bonds Ranch Marketplace retail center developed by Weitzman. The center’s development is managed by Weitzman’s David Palmer, while the company’s Michelle Caplan and Gretchen Miller will handle leasing.
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VanTrust Real Estate started work on the first phase of its 121 Commerce Park industrial development in McKinney. The project will deliver two Class-A speculative industrial buildings totaling more than 511K SF. Building A will be more than 241K SF, while Building B will be nearly 270K SF. Construction is expected to begin in the second quarter of 2026, with completion anticipated by the second quarter of 2027.
Phase 2 of 121 Commerce Park will have an additional 250K SF available for build-to-suit. JLL’s Kurt Griffin, Nathan Orbin, Dalton Knipe and Weston King will market the project. VanTrust selected Evans General Contractors alongside GSR Andrade Architects and Kimley-Horn to assist in the development.
FINANCING
Nuveen Green Capital facilitated $5.5M in commercial property assessed clean energy financing in conjunction with Lone Star PACE for a 1.1M SF multitenant office tower at 600 E. Las Colinas Blvd. in Irving. The 22-story building underwent HVAC and automation control upgrades in August 2024 that qualified for the financing.
The upgrades are expected to reduce the property’s annual electricity consumption by 10% and total $7.3M in savings over the assessment’s 24-year term.
