RREEF Sells 96,750-SF Industrial Complex in Ongoing Portfolio-Mixing Strategy

DALLAS-RREEF Funds has sold a three-building warehouse property, solely leased to Bridgestone Tire Co., in the Century Circle industrial park. The purchaser of the 96,750-sf complex is Tomlinson Leis, based in Dallas.

The 22-year-old structures are located at the intersection of Loop 12 and Texas 183, just east of Texas Stadium. Bridgestone’s lease has two years before it expires, according to Randy Baird, a senior director for Cushman & Wakefield of Texas Inc.

RREEF had acquired the property 18 months ago from AEW Investment Management of Boston. “It was bought as part of a larger portfolio, with the intention of reselling it shortly after the acquisition… which we did,” Baird told GlobeSt.com. The sale represents an ongoing portfolio-mixing strategy that RREEF has been employing for its clients, he explains.