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DRA Spends $79M on 8 Plano Warehouses
DRA Advisors has purchased an eight-building, 846,261-square-foot infill industrial portfolio in Plano, Texas. New York Life provided $79 million in acquisition financing.
Commercial Edge reports Link Logistics sold the Metroplex properties in a transaction arranged by Cushman & Wakefield. Cushman & Wakefield’s James Carpenter led a team of brokers who represented Link Logistics.
At the time of the sale, the portfolio was fully leased to 15 firms. Tenants include Samsung, Unicom Engineering and Beckett, to name a few. The buildings ranged from 53,000 to 210,000 square feet, five were situated on E. Plano Parkway, two on Summit Avenue and one on Klein Road. The buildings were completed between 1997 and 2000.
In February, DRA Advisors closed its 11th Growth and Income Fund at nearly $2.3 billion—the largest to date. The investment vehicle targets value-add opportunities in the industrial, retail, multifamily, office and life sciences sectors.
DRA’s funds currently own 598 properties across 39 states.
- ◦Sale/Acquisition
