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First Industrial Wins Bidding War for 25-Building Valwood Park Package

CARROLLTON, TX-First Industrial has beat out 10 other bidders for a 25-building, 1.25-million sf package in Valwood Park. It's one of the largest portfolios ever to come to market in the Greater Dallas Area.

By Connie Gore | Updated on February 13, 2001

CARROLLTON, TX-In a Texas-size deal, Chicago-based First Industrial LP has taken title to 1.25 million sf of industrial space, with a property assessment of more than $40 million, in Valwood Park.

The 25 buildings, situated on 68 acres, have been sold by Principal Capital Management, an investment pension fund based in Hong Kong with its US office in Des Moines, IA.

“The Valwood sale is an especially important transaction, given its size and diversity of property type,” says Jack Fraker, executive vice president for Cushman & Wakefield of Texas Inc.”It is one of the largest portfolios ever offered in the Greater Dallas Area.” Fraker, Randy Baird and Angelina Wright have brokered the sale on behalf of Principal Capital Management. First Industrial has used in-house brokers Dan Stoffle and Greg Heck to close on the class-A package in the high-profile park positioned at the intersection of Interstates 35E and 635.

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