The sale represents one of this year's largest acquisitions of an industrial/distribution facility in the Dallas-Fort Worth area, says Mark A. DeMattia, acquisitions director for Keystone Strategies, the seller. It also is Keystone's largest 100% fee simple holding in its Dallas portfolio, DeMattia told GlobeSt.com. The partnership's identity and bottom-line purchase price are being kept confidential, but the deal carries a $29 million loan financing from Orix Real Estate Capital. "In terms of a warehouse building, it's a trophy," he says of the high-tech structure that Dallas-based Keystone acquired two years ago upon completion by Vantage Co. for Blockbuster.

DeMattia says Blockbuster will continue to operate its worldwide distribution for more than 5,000 retail outlets from the site under terms of a 15-year, triple net lease with the new owner. The structure, built to withstand an F5 tornado, also houses the video business' data center that collates gross receipts for all of its retail locations. The property is located north of Dallas near the northeast corner of US Highways 75 and 380.