Pension Fund Nabs 667K-SF GM Industrial Facility

AFL-CIO Building Investment Trust acquired the 667,635-square-foot Logistics Crossing I, located in Grand Prairie, TX. The industrial facility, at 2305 W. Marshall Dr., is 100% leased to General Motors Corp., which has eight years of remaining lease term.

Robinson Weeks Partners, represented by CBRE, sold the property for an undisclosed price; the Tarrant Appraisal District assesses the asset at $23 million.

Weeks Partners, headquartered in Atlanta, GA, constructed the facility as a General Motors build-to-suit. The building delivered with a 497-foot rail spur, a cross-deck configuration and 32-foot clear heights. “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.

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