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Black Creek Expands DFW Footprint with Carrollton Industrial
Denver-based Black Creek Group is adding to its North Texas holdings with the purchase of two industrial buildings in Carrollton, the Dallas Morning News reported. Totaling more than 618,000 square feet, the two-building Valwood Crossroads portfolio represents one of the largest recent industrial building buys in North Texas.
Deal terms weren’t disclosed. The buildings were constructed last year by developer Core5 Industrial Partners and are fully leased to Smith System Manufacturing Co., a unit of Steelcase Inc.
“We contracted on this one after the pandemic escalated,” said Black Creek SVP Mace McClatchy. “It was a competitive purchase and was widely marketed.
“Valwood Crossroads is a great product in a great location with a great tenant,” he added.
The purchase expands Black Creek’s substantial industrial building footprint in the Dallas-Fort Worth area. “Including this deal, it puts us right at about 4.5 million square feet,” said McClatchy.
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- ◦Sale/Acquisition
