518K-SF Industrial Property Becomes Largest for Preston Forrest

Preston Forrest Capital recently acquired an industrial property in Sherman, TX for an undisclosed price. This 518,700-square-foot facility becomes the largest industrial property acquired to-date for Preston Forrest Capital.

The warehouse situated on 70 acres is 40 miles north of the Dallas-Fort Worth metro at 1400 W. FM 1417 just west of U.S. Highway 75. The 100 percent-occupied facility currently serves as a regional distribution hub for CertainTeed Corporation, an international building products manufacturer.

The building is located within Progress Park, a 3,300-acre master-planned business park, which is home to operations of global leaders Tyson Foods, Sunny Delight, Texas Instruments, Emerson, Finisar, FedEx and others. Prior to its conversion into a distribution warehouse, the building was used for insulation manufacturing and distribution.

Stan McClure of CBRE represented the seller, the State of Texas Permanent School Fund and General Land Office, in the transaction.

“This acquisition is directly in line with our firm’s strategy as we continue to invest in growing markets with strong fundamentals,” says company president Dru Landrum. “While we are active in other asset classes, our main focus right now is expanding our industrial holdings in Texas through acquisition and development.”