2M-Square-Foot Goal is in Sight

GARLAND, TX—With DFW a prime choice of many an investor, some are even setting acquisition goals to ensure a presence in the marketplace. A year ago, Fort Worth-based Fort Capital set an aggressive goal to own and operate 2 million square feet of industrial space by third quarter 2019. And with more than a year to go, the investment firm is more than halfway there.

Fort Capital recently expanded its industrial property portfolio with the acquisition of 4040 Forest Ln., a 603,795-square-foot building. With the addition of 4040 Forest Ln., Fort Capital has already reached the 1.134-million-square-foot mark and is on track to far surpass its initial goal. The firm currently has 250,000 square feet under contract to close in third quarter 2018.

“We were attracted to the property as it was 94% occupied and offers tenants the most cost-effective space in the Garland submarket,” Sarah LanCarte, managing director of industrial at Fort Capital, tells GlobeSt.com. “The property also consisted of 27 acres of concreted outside storage and trailer parking. Fort Capital has retained TIG for the current leasing efforts and will be marketing the available space to a variety of users for warehousing and trailer storage.”

LanCarte says Fort Capital is focused on the B-class industrial market, and believes Dallas-Fort Worth and Texas in general provides the right markets for the assets to flourish. Established by Chris Powers in 2005, Fort Capital is an investment firm focused primarily on real estate development, with multifamily, student housing, industrial, commercial and land properties investments throughout DFW, El Paso and Houston.

“We are committed to building a strong industrial portfolio across DFW and other key Texas markets.  While 2 million square feet is our initial goal, we feel like we can have a larger impact over the next decade,” said Powers.