Westmount Buys Two Buildings

FORT WORTH STAR TELEGRAM
By: Sandra Baker and Andrea Jares, Staff Writers

Westmount Realty Capital, a privately held real estate investment company, has bought two buildings, totaling more than 740,000 square feet of industrial space in Arlington and Dallas.

The Dallas-based company bought a 569,287-square-foot building at 109th Street in the Great Southwest Industrial Park. The property on 26.1 acres has two tenants, making it one-third leased.

Westmount also purchased a 173,175-square-foot distribution center on 11.5 acres at 4884 Duncanville Road in Dallas. ConAgra Foods leases 58 percent of the space.

Westmount is positioning itself for the return of high occupancy rates and accompanying rises in rents when the market strengthens, said Cliff Booth, Westmount Realty president.

“Current conditions in the DFW market make this a good time to acquire the right kind of industrial assets because they represent so much upside potential,” Booth said in a statement.

Westmount plans to aggressively market the properties to prospective tenants, Booth said.

Kevin Santaularia of Bradford Cos. and Larry Leon and David Sours with CB Richard Ellis brokered the Arlington building.
Leon and Sours, along with Tom Smolik and Michael Spain with TIG Real Estate Services, brokered the Dallas building.