AEW Capital Management, Hines Sell Parc 114 Business Park
Parc 114 Business Park—568k SF adjacent to DFW Airport in Irving—has a new owner. Colony Capital, through its Colony Industrial Fund, purchased the seven-building, Class-A industrial business park from AEW Capital Management, on behalf of a separate account client, and Hines Interests.
Parc 114 Business Park includes bulk distribution, shallow bay and light industrial. The buildings, built between 2010 and 2016, feature an average clear height of 28 feet, building depths between 120 and 200 feet, and a 30% office finish. Children’s Health, Nautilus Hyosung, Walgreens, Nissan, Schindler Elevator, Fiat Chrysler, ZAK Products and others comprise the 97% leased business park.
HFF managing director Adam Herrin and executive managing director Joe Thornton repped the seller.