Portfolio Offers Almost Total Barrier to New Competition

Momentum Commercial Realty recently disposed of an 80-building office portfolio totaling 2.26 square feet. The portfolio was sold to CIP Real Estate.

The buildings are located across the Dallas-Fort Worth metroplex, but are primarily concentrated in Richardson, Plano, Addison, Garland, Quorum/Bent Tree and Allen real estate submarkets. The portfolio buildings are located in some of the most centrally located infill submarkets in DFW.

The properties feature 1.76 million square feet of light industrial across 61 buildings. The assets were amassed by Momentum Commercial Realty’s Roy Greenberg and Bryan Lurie in a 25-year period.

The portfolio was the totality of Momentum’s real estate holdings in the Dallas-Fort Worth metroplex. Jud Clements, Robby Rieke, Taylor Starnes and Macki McKim of Cushman & Wakefield’s industrial and office capital markets team represented the seller.

“CIP Real Estate was an ideal buyer for the portfolio,” says Clements. “Their future in DFW is bright and we look forward to continue to help them grow their footprint in the Dallas-Fort Worth industrial market.”

The offering represented an opportunity to acquire a portfolio with near-total barriers to new competition, outstanding tenant retention, broad multi-tenant diversity and a strong cashflow. Additionally, the portfolio offered upside potential through below-market in-place rents, the lease up of the existing vacancy and potential user sales in the hold period.