Real estate investment firm Westmount Realty Capital is moving into developing industrial hubs after the purchase of a West Dallas tract in an off-market deal.
The Dallas-based firm, with a decades-long history of investing in value-add and opportunistic real estate deals, is making a move to develop ground-up industrial projects in infill markets. The company’s first project is planned for a 24.4-acre tract it bought at 951 W. Walton Walker Blvd. in West Dallas for a new cold storage facility, said Kyle Russell, Westmount Realty’s managing director of development.
“We wanted an infill site where there was a good opportunity for success if we execute it in a specific way and work with a leasing team to identify what tenants are asking for in the market,” Russell told CoStar News, adding that the 41-year-old firm was in direct conversations with the prior owner to land the off-market deal.
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