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FORT WORTH-In a deal area brokers estimate at $9.2 million, Los Angeles-based Xebec Realty Partners has entered the Texas commercial real estate market with the acquisition of the seven-year-old, 208,611-sf Northpoint Trade Center I and II and 9.5 acres of adjacent land at Blue Mound Road Interstate 820 here. Xebec purchased the industrial portfolio from locally based McCarty Properties.

Xebec and McCarty principals declined to disclose the contract price, but area brokers familiar with the North Fort Worth industrial submarket tell GlobeSt.com the deal went down for about $9.24 million. The brokers based their estimate for the two distribution centers on a $42-per-sf going sale price for comparable area warehouse assets and about $50,000 per acre, or $1.15 per sf, for the undeveloped dirt.

The deal was done at this time because McCarty officials felt the market was ripe for a strategic disposition. "With market conditions as they are and cap rates at an historical low, we determined that timing was optimum to sell some class A product," says Dan McCarty, a third-generation Fort Worth native and a 28-year veteran in commercial real estate circles who heads his company. He adds, "The Fort Worth industrial market continues to improve as national name developers enter and vacancies continue to decline from what were relatively good numbers already."