PIRET Snags Second Fort Worth Asset
Hunt Southwest Real Estate Development sold 35|820 @ Mercantile Center, a 657,043-square-foot, Class A warehouse and distribution center in Fort Worth. Canadian buyer Pure Industrial Real Estate Trust — PIRET — acquired the asset for an undisclosed amount. However, according to a previous release from the buyer, the REIT planned to pay $61.4 million for the property on 4800 N. Sylvania Rd./2601 Quorum Dr.
HFF’s Jody Thornton, Adam Herrin and Stephen Bailey represented the seller.
35|820 @ Mercantile Center was completed in August 2017 and is situated on 34.5 acres. The facility has a 36-foot clear height, deep truck court, 152 overhead dock doors, four drive-in doors and a low-office finish. The main tenant is S&S Activewear LLC, which signed a lease for 493,000 square feet in May 2017.
The transaction represents PIRET’s second with Hunt Southwest. The Canadian REIT acquired the 310,500-square foot Riverbend Distribution Center, also in Fort Worth, in late 2017.
For comments, questions or concerns, please contact Amy Sorter