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Lender and developer CIM Group finalized a 1.1M SF industrial play in Fort Worth through the acquisition of Junction 20/35.
The industrial property is made up of cold and dry storage space and an adjacent 14.42 acres within the Carter Industrial Park at 7550 Oak Grove Road in South Fort Worth.
The 30-year-old facility is near Interstates 20 and 35 and offers modern clear heights, loading bays, a truck court and rail accessibility. The asset also provides industrial users with 66 dock doors, one ramp, three rail doors and a site that is fully fenced in and secure.
The purchaser, CIM Group, owns, develops and repositions real estate assets nationwide.
Industrial is the one CRE asset class that has remained relatively stable in the wake of the coronavirus shutdown, with buildings in the space remaining a key part of the nation's supply chain and e-commerce delivery network.
Developers in the past month even broke ground on the 198K SF Skyline Commerce Center development, a Class-A industrial project in northeast Dallas alongside Interstate 30.
Analysts don't expect industrial assets in DFW or elsewhere to escape the coronavirus slowdown without some shifting tides, but from the onset of the crisis, industrial space in DFW has been deemed a stronger vessel to battle the economic storm in.
Even as the U.S. economy recognized signs of a slowdown in the latter part of the first quarter of 2020, CBRE found that the industrial asset class remained healthy and robust.
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