JLL Capital Markets closed the sale of Westside 35, a multi-tenanted industrial park
News release
21 December 2022
Sale of two Class A industrial buildings in North Fort Worth closes
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DALLAS, Dec. 21, 2022 – JLL Capital Markets announced today that it has closed the sale of Westside 35, a two-building industrial park totaling 540,324 square feet in Fort Worth, Texas.
JLL represented the seller in the sale to CBRE Investment Management.
The recently completed industrial park is fully leased to three tenants, Gulf Relay, Mattel Sales Corp. and Texas Corrugated Box and Packaging. Westside 35 comprises two front-load warehouses with 36’ clear heights. Building A offers 59 dock doors, two oversized doors, a 185’ truck court, 54 trailer parking spaces and 188 auto spaces. Building B features 50 dock-high doors, two oversized doors, a 185’ truck court, 53 trailer parking spaces and 185 auto spaces.
Located at 2555 and 2575 Downing Dr., Westside 35 is proximate to Interstates 35 and 820, essential transportation routes for local and regional distribution. The property is 10 minutes from downtown Fort Worth, 18 minutes from Alliance Airport, 25 minutes from Dallas-Fort Worth Airport and 40 minutes from Downtown Dallas. Furthermore, the Dallas-Fort Worth Metroplex ranks as the 4th largest metro area in the country with over 7.9 million residents. The region’s low cost of living and pro-business environment has people and corporations relocating to the area, making it the #1 MSA for projected population growth.
The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Directors Dom Espinosa and Zach Riebe and Analysts Matthew Barge and Jake Benalloul.
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 sales and 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 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $143.9 billion in assets under management* as of September 30, 2022, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit cbreim.com.