1.1-MSF cold storage facility sells in key DFW food distribution hub

Westmount Realty Capital, LLC and a fund managed by New York-based DRA Advisors sold Dallas Food Center, a 1.13-million-square-foot, state-of-the-art cold storage facility. Jonathan Bryan and Randy Baird of CBRE represented the seller in the sale transaction. Terms of the deal were not disclosed.

Spanning approximately 61 acres, the asset includes four distribution buildings, two refrigerated warehouses and substantial trailer storage. Located at 2600 McCree Road in Garland, Texas, the property was originally built as a Safeway (Tom Thumb) distribution center then saw major expansions and renovations in 1970, 1972, 1996, 2006 and 2008.

“Westmount has had its pulse on industrial since the 1990s long before the explosive growth we’ve recently seen in the cold storage and industrial markets,” said Cliff Booth, CEO of Westmount. “We recognized this asset early on as a valuable investment that would be attractive to tenants due to its size, versatility and location. When we acquired this property, it was an under-performing portfolio that was 68 percent occupied. We were able to actively manage and lease-up the asset, growing occupancy to over 92 percent while improving the tenant profile and signing credit-worthy tenants to long-term leases spanning 10-15+ years.”

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