Pure Industrial Buys 301K SF Riverbend Distribution

Pure Industrial Real Estate Trust acquired Riverbend Distribution Center, a 301,500-square-foot cross-dock industrial facility in Fort Worth. The Canadian REIT paid seller/developer Hunt Southwest Real Estate Development $32 million for the asset, which is situated on 16.7 acres at 2101 Reeves Place and 2152 Riverbend West Dr. in East Fort Worth. HFF represented the seller in the transaction.

The REIT is becoming active in Forth Worth Commercial Real Estate, recently announcing it is under contract to buy a second Fort Worth industrial asset, totaling 657,043 square feet, for $61.4 million. Though Pure Industrial’s contract announcement was short on details, “Fort Worth II Acquisition” could be the 35/820@Mercantile Center, a new distribution center near Interstates 35 and 820, in North Fort Worth. Hunt Southwest Real Estate is the project developer; S&S Activewear LLC leased 493,000 square feet. A closing date was not specified.

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