Three Class-A industrial buildings built in December 2023 were acquired by real estate investment firm Bixby Capital Management.

The 42-acre site adds nearly 534K SF to the California-based firm’s industrial portfolio in Dallas-Fort Worth. That news follows a report from CommercialSearch that DFW is the No. 1 metro in the nation for distribution and warehousing.

From 2019 to 2023, the Metroplex added around 110M SF of new distribution and warehouse space, the Dallas Business Journal reported. That helped give DFW more than 613M SF in total, outpacing Phoenix and Savannah, Georgia, which came in at No. 2 and No. 3, respectively.

Bixby’s new buildings, located at 1110, 1204 and 1420 Military Parkway in Mesquite, are 78% leased with two tenants. They offer front-load and cross-dock configurations, 32-foot clear heights and four points of ingress/egress for tenants.

“We are pleased to expand our presence in the DFW market with this acquisition,” Bixby Director of Acquisitions Lexi Geiger said in a statement. “The combination of limited supply in the 100,000 to 150,000 square foot size range, especially in infill East Dallas, and strong tenant demand in this segment presents an attractive opportunity for us.”

Geiger said the investment, acquired on behalf of Bixby Industrial Fund 1, aligns with the company’s goal of finding high-quality industrial space that is optimally located within a premier logistics markets like DFW.

DFW’s air freight capabilities and its location along major highways and railways contributed to its high placing in CommercialSearch’s rankings. The site evaluated metros based on logistics infrastructure, construction statistics, and distribution indicators and costs in addition to total square footage of distribution and warehousing assets.

The Bixby transaction was brokered by CBRE National Partners’ Randy Baird, Jonathan Bryan, Ryan Thorton, Nathan Wynne, Eliza Bachhuber and Elliott Dow. Financing was arranged on behalf of Bixby Capital by CBRE’s Scott Lewis and Matt Ballard.

Industrial space continues to be a hot commodity in the Metroplex.

Basis Industrial surpassed 1M SF of industrial space it owns in DFW in August. The Florida-based company acquired more than 1M SF of industrial space as part of three portfolios it purchased that month in Texas and Florida. All but two of the 14 Texas properties in those deals were in DFW, while the other two were in Houston.

Those purchases came less than a year after Basis spent more than $81M on a nearly 422K SF warehouse campus and a 161K SF industrial complex in Fort Worth.

Work is also underway in Plano on a new multibuilding distribution facility. Foundry Commercial plans to build two buildings of nearly 227K SF and 96K SF at the former location of financial services company Transamerica at 2700 W. Plano Parkway. The spec buildings are expected to cost $10.7M and $5.3M, respectively.

Taiwanese technology company Sysgration America Corp. is in the midst of a $20M project for its new advanced manufacturing facility just down the street from the Foundry property.