CBRE signs The Kraft Heinz Company, enabling larger-scale cold storage capabilities
DALLAS, June 12, 2017 – Westmount Realty Capital (Westmount) announced today that The Kraft Heinz Company has signed as the largest tenant of Logistics Pointe Garland, leasing 260,959 square feet, including 90,000 square feet of cold storage. CBRE represented both tenant and owner in the transaction for the industrial development, located at 2600 McCree Road in Garland.
“We are excited that Kraft Heinz will be leasing at Logistics Pointe Garland,” said Clifford Booth, president and CEO of Westmount. “This year we have made significant improvements to the property, including increasing the building’s cold storage capabilities, which has made it a fierce competitor in the D-FW revitalized industrial market, which we describe as ‘urban logistics.’”
Logistics Pointe Garland was originally built as a large-scale grocery distribution center. The complex includes three buildings totaling 1.1 million square feet of space. The property currently has 298,119 square feet of of freezer/cooler space, 608,435 square feet of dry warehouse space and 192,139 square feet of free-standing warehouse. The property also has substantial trailer storage, rail service by DGNP and employee parking, offering a competitive advantage.
“Kraft Heinz’s move into Logistics Pointe Garland confirms the growing need for large-scale cold storage capabilities in North Texas,” added Booth. “Conversion of urban logistics facilities to meet current cold storage requirements is complex; however Westmount has successful experience in these projects just as the area’s population growth is driving increased demand for this type of specialized storage.”
The Kraft Heinz Company will use the space for fulfillment and logistics. The company is the fifth-largest food and beverage company in the world, with eight $1 billion brands. A globally trusted producer of delicious foods, The Kraft Heinz Company provides high quality, great taste and nutrition for all eating occasions whether at home, in restaurants or on the go.
Westmount was represented by Kevin Kelly at CBRE. The Kraft Heinz Company was represented by David Sours at CBRE.
About Westmount Realty Capital
Westmount Realty Capital, LLC is a time-tested, privately held, Dallas-based commercial real estate company that has achieved exceptional performance, with a core team in place, for more than 30 years. Westmount is seen as an innovator and leading edge company in the industry and is a trusted operating partner of numerous U.S. and foreign institutional and private capital sources. The company is active nationally, specializing in value add and opportunistic investments, and has navigated successfully through multiple market cycles. For additional information, contact www.westmountrc.com.
For more information on what is planned for the portfolio please direct inquiries to:
Westmount Realty Capital, LLC:
Alice Kettle, Manager of Marketing
CB Richard Ellis