JLL Capital Markets arranged the sale of Corner Ridge Crossing, a 4-building industrial park on behalf of Hines
News release
02 June 2022
Newly built Class A+ industrial park in San Antonio trades
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DALLAS, June 2, 2022 – JLL Capital Markets announced today the closing of the sale of Corner Ridge Crossing, a four-building, Class A+, last-mile industrial park totaling 576,047-square-feet in San Antonio, Texas.
JLL marketed the property on behalf of the seller, Hines. Leading global investment firm KKR acquired the asset through its Americas opportunistic equity real estate fund.
Completed in 2020, Corner Ridge Crossing is well leased to a strong mix of national and regional tenants, including publicly listed multinational ecommerce and food & beverage companies. The property includes four state-of-the-art industrial facilities: one cross-dock, one front-load and two rear-load buildings. Each building has clear heights of 28 to 32 feet, 28- to 60-foot dock high doors and truck courts ranging from 130 to 210 feet.
The buildings are located inside of the master planned Cornerstone Industrial Park which is in a strategic infill location in the heart of the San Antonio-New Braunfels metropolitan statistical area with immediate access to Interstate 10, Interstate 35 and Loop 410. These major throughfares provide access to four major cities in less than four hours, including Downtown San Antonio, Austin, Houston and Dallas-Fort Worth.
The JLL Industrial Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors Trent Agnew and Dustin Volz, Director Dom Espinosa and Associates Josh Villarreal and Zach Riebe.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Hines
Hines is a privately owned global real estate investment, development and management firm, founded in 1957, with a presence in 285 cities in 28 countries and $90.3 billion¹ of investment assets under management and more than 114.2 million square feet of assets for which Hines provides third-party property-level services.
Hines has 198 developments currently underway around the world, and historically, has developed, redeveloped or acquired 1,530 properties, totaling over 511 million square feet. The firm’s current property and asset management portfolio includes 669 properties, representing over 230.6 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most respected real estate organizations in the world.