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Mountain West Earmarks $150M for North Texas

CARROLLTON, TX-After working Houston for awhile, the Denver-based buyer comes north. With one deal done, the plan is to spend $50 million by year's end and $100 million in 2009.

By Connie Gore | Updated on August 07, 2008

CARROLLTON, TX-Denver-based Mountain West Industrial Properties, mining Houston for several years, has turned its capital to Dallas/Fort Worth. The investment group expects to spend $50 million before this year ends and $100 million in 2009.

For its first purchase in Dallas/Fort Worth, the investment group has picked up the 52,613-sf Hutton Court Commerce Center at 1920 Hutton Court in Valwood Industrial Park. Mountain West, a player on the value-add circuit, is starting with 58% occupancy, with three tenants and no lease roll for at least one year, according to TJ Tarbell, acquisitions director for Mountain West.

Tarbell tells GlobeSt.com that there are “three or four” more acquisitions in the pipeline for this year, with the next closing coming in two months. He plans to buy at least five properties in 2009. “We committed to starting acquisitions in Dallas late last year,” he says, “and we had pursued other opportunities in Valwood. We’re looking for quality assets with some sort of value add or upside potential to them.” Mountain West’s deal size is $5 million or higher.

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