COPPELL, TX-New York City-based Teachers Insurance and Annuity Association has outbid nearly 20 competitors for Coppell’s premier two-building Park West Commerce Center, a 735,000-sf, class-A office-warehouse property positioned on 34 acres.

Seller Northwestern Mutual Life Insurance Co., headquartered in Milwaukee, still owns 17 acres fronting Beltline Road in the bustling Coppell submarket and is holding onto the raw land for a future undertaking, says Randy Baird, senior director for Cushman & Wakefield of Texas Inc. “It’s the only true class-A deal on the industrial side” that has come down the Dallas pike in the past year, Baird tells GlobeSt.com. “It definitely was one of the most hotly pursued transactions for the year. Every major property fund, adviser and REIT made a bid.”

The Bradford Co. continues to hold the leasing and management contract despite the owner change, says Baird. Northwestern Mutual and Insignia/ESG had developed the commerce center in 1998-99.

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