Westgate Property Is Sound Investment, Strategic Tenant Site
Mohr Capital recently sold an industrial flex building occupied by Frontier Communications and Trancendia in Carrollton, TX. Cabot Properties acquired the building through its Cabot Industrial Value Fund VI Operating Partnership LP. The price was undisclosed.
The 113,786-square-foot building is located at 2001 Westgate Dr. in the Northwest Dallas industrial submarket. The property is 75 percent occupied by Frontier Communications and 25 percent occupied by Transcendia.
“In 2021, the Dallas-Fort Worth industrial market has seen three consecutive quarters of record demand, making the opportunity to sell this property particularly appealing,” said Gary Horn, chief development officer for Mohr Capital. “Our capital expenditures and the healthy state of asking rents in the market right now make this property a sound investment for the new owner and a strategic site for the tenants in the coming years.”
Mohr Capital acquired the industrial flex building in 2010 on behalf of Verizon Communications, securing a 10-year lease extension with a 20,000-square-foot expansion. During its ownership, Mohr replaced the roof of the entire building and made other capital improvements, substantially improving the property for Verizon’s use. In April 2016, Frontier completed its acquisition of Verizon’s wireline operations and assumed its occupancy in the Carrollton building to date.
JLL’s Dustin Volz and Stephen Bailey represented Mohr Capital in the transaction.
- ◦Sale/Acquisition