DALLAS - February 6, 2017 -CBRE announces the sale of Logistics Crossing I, a 667,635-square-foot industrial facility in Grand Prairie, Texas. Washington D.C.-based AFL-CIO Building Investment Trust, advised by PNC Realty Investors purchased the asset from Atlanta-based Robinson Weeks Partners for an undisclosed price.
The industrial facility, located at 2305 W. Marshall Drive, is 100 percent leased to a top automotive manufacturer with eight years of remaining lease term. The asset features a 497-foot rail spur, 32-foot clear heights and a cross-dock configuration.
"This transaction represents the continued trend of institutional equity seeking trophy quality assets in prime locations throughout the greater Dallas-Fort Worth Metroplex," said Jack Fraker, Vice Chairman and Managing Director of CBRE's Capital Markets Industrial Practice.
CBRE National Partners represented the seller in the transaction.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.