MESQUITE, TX-Exeter Property Group has purchased Mesquite Business Center, a three-building industrial property, from BBVA Compass Bank for an undisclosed amount.

The deal represents one of the largest foreclosed industrial property sales in the Metroplex. The note on the property, which is generally recognized as one of the state-of-the-art industrial properties in its Mesquite/Garland submarket, is roughly $25 million.

The acquisition of the 555,200-square-foot distribution center marks Exeter’s first buy in the Dallas/Fort Worth market, according to Keith Fisher of Stream Realty Partners. He represented BBVA Compass Bank in the transaction, along with Patrick Blasdell, Bob Hagewood and Jeff Jackson.