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Xebec Crashes Texas Market With Estimated $9M Deal

FORT WORTH-The Los Angeles-based company acquires the 208,611-sf Northpoint Trade Center I and II industrial portfolio and 9.5 acres of adjacent vacant land from McCarty Properties.

By Alex Finkelstein | Updated on November 20, 2006

(To read more on the industrial market, click here.)

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.

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