KTR Capital Details $60M Plan for 1M-SF Inroad

COPPELL, TX-With word on the street about Minyard Food Stores Inc.’s campus sale, the new owner, KTR Capital Partners of New York City, is discussing its first purchase in Dallas/Fort Worth and its plans for the 80-acre footprint. When the dust settles, the 792,394-sf repositioning and 510,000-sf expansion will provide a niche campus with an all-in value exceeding $60 million.

KTR Capital tapped the $500-million Keystone Industrial Fund LP to buy the asset at 777 Freeport Pkwy., which had been marketed by CB Richard Ellis principal Bob Scully and senior vice president Dayton Conklin. With the deal now sealed, it’s time to dig into a value-add plan for a three- to five-year hold, possibly longer.

KTR Capital partner Don Chase says the rail-served campus will be re-branded into a multi-tenant development for industrial users, primarily aimed at the grocery supply chain, after Minyard’s completes its move in the fall to Oklahoma City. Several users were looking to buy Minyard’s 25-year headquarters and distribution center, but backed away from the deal because it had to be sold in its entirety, according to Chase. “Those same users are still out there. They still have a need,” he tells GlobeSt.com. “Those competitors are our prospects now.”