Canadian REIT Closes on 84 Acres

Pure Industrial Real Estate Trust, headquartered in Vancouver, BC, Canada, closed on the acquisition of 84 acres in Wilmer, TX. The REIT paid $8.2 million for the land in south Dallas County, of which approximately $1.1 million will be used for municipal infrastructure improvements.

The site is near Interstate 45, close to the Union Pacific Dallas Intermodal Terminal. The trust is planning to develop up to 1.6 million square feet of Class A industrial real estate on the land. Pure Industrial currently owns the Dalport Trade Center, which it acquired in June 2017 for $55.9 million.

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