Industrial & Logistics

Speedway Crossing

2401 Petty Pl Fort Worth, Texas United States 76177-8923
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2019
Building Area

Property Description

JLL Capital Markets is pleased to present the opportunity to acquire Speedway Logistics Crossing (the “Property”), a brand new, Class A+ Industrial Park strategically located in the North Fort Worth Submarket in the thriving Dallas / Fort Worth Industrial Market. The Property is comprised of two state-of-the-art industrial facilities which are currently 82% leased to AmerCare Royal (390,006 SF – Building 2) and WABTEC (265,000 SF – Building 1) for an average lease term of 12.3 years. Potential Investors have the unique opportunity to acquire a well located, well leased asset, in one of the most dynamic big box submarkets in the country, while also capturing a significant value proposition leasing the remaining 143,240 SF (18%) vacant space. The Speedway Logistics Crossing opportunity offers an ideal combination of functionality, location, quality, and exit liquidity for an investor seeking a core opportunity.


The Property is strategically located 1.6 miles northwest of the intersection of I-35W and SH-114 in the North Fort Worth (Alliance) Industrial Submarket, known for its accessibility to major interstate highways (I-35W, I-820, SH-81 and SH-114) that run directly through this region. The Property offers a prime location for local, regional and national distributors with exceptional regional accessibility and immediate access to an abundant labor supply. Positioned at the northeast intersection of Petty Place and FM 156, Speedway Logistics Crossing provides the rare opportunity to acquire a highly functional core asset with reliable in-place cash flow and a coveted big box distribution location.

Investment Highlights

STABLE IN PLACE CASH FLOW WITH ORGANIC INCOME GROWTH

The Property is currently 82% leased on a long-term basis to two tenants AmerCareRoyal and WABTEC. The two tenants have a WALT of over 12.3 years. AmerCareRoyal currently has 10.33 Years remaining on their lease with 2.50% annual rent escalations, while WABTEC signed a 15-year 6-month lease that is anticipated to commence November 1, 2020 with 2.35% annual rent escalations. Both leases would allow potential investors to capture substantial lease term and have healthy income growth embedded within the cash flow. 


BRAND NEW INSTITUTIONAL QUALITY INDUSTRIAL PARK

Speedway Logistics Crossing features best-in-class industrial construction and highly functional Class A design providing all amenities and building characteristics sophisticated tenants have come to expect in modern industrial warehouses. The Property features two buildings, one 36’ clear front-park/rear-load facility (Building 1) and one 36’ clear cross-dock facility (Building 2).


VALUE PROPOSITION THROUGH VACANT SPACE LEASE UP

Since delivery in May 2020, Speedway Logistics Crossing is now 82% leased with 143,240 square feet of remaining vacant space in Building 1 allowing potential investors to capture additional yield through leasing up the remaining vacancy. Building 1’s Class A+ physical specifications, desirable distribution location, and functionality hold the potential to attract one of several credit tenant requirements within the market and submarket. 


SUPERIOR LEASING VELOCITY WITHIN THE SUBMARKET

The Property is located in one of the most desirable industrial submarkets in the Dallas Fort Worth Metroplex. The North Fort Worth (Alliance) submarket has become the market’s primary industrial center for national and regional tenants and accounts for a critical mass of Class A DFW industrial product. The submarket accounted for over 17.5% (3.8M+ SF) of DFW’s total industrial absorption in 2019, and is not anticipated to slow down as 1.6M SF of space has been absorbed as of Q1 2020.


Last Updated Date: 27 Jul 2020
Dustin Volz
Dustin Volz
Managing Director, Capital Markets
John Huguenard, SIOR, CCIM
John Huguenard, SIOR, CCIM
Senior Managing Director, Industrial Platform Leader

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 27 Jul 2020

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.