DALLAS--Stonelake Capital Partners has acquired six industrial buildings totaling 530,000 square feet in Dallas along Interstate 30 in the Turnpike Industrial Park.
The addition of these six industrial buildings brings Stonelake's industrial portfolio to over 3,000,000 square feet in Dallas, Houston, San Antonio and El Paso as Stonelake continues to aggregate a large industrial portfolio.
"The Turnpike Industrial Portfolio is our third acquisition in the last three months of highly functional, infill industrial buildings in the DFW metroplex, and our seventh acquisition in 2015 of highly functional, infill industrial buildings in Texas," Alan Schoellkopf, chief operating officer, told GlobeSt.com. "In 2016, we will look to continue making similar strategic acquisitions in DFW, San Antonio and Houston."
Stonelake purchased the Turnpike Industrial Portfolio from the Billingsley Co., who has owned the portfolio since the 1970's. The buildings were originally developed by Trammell Crow Co. Prior to the acquisition, Stonelake acquired two industrial buildings in the Great Southwest Industrial market in two separate transactions and now owns 675,000 square feet of industrial in Dallas.
Stonelake's latest industrial acquisition is located three miles west of downtown Dallas near the intersection of Interstate 30 and Cockrell Hill Road.
CBRE's Jack Fraker and team represented both buyer and seller in the transaction. The purchase price was not disclosed.
Steve Koldyke, Kacy Jones and Wilson Brown of CBRE are representing Stonelake in leasing the project.
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