Philadelphia-based Arden Logistics Parks announced today the acquisition of the DFW Infill Portfolio, a 19-building industrial portfolio, according to a news release.
The 764,156-square-foot portfolio was sold by Dallas-based real estate firm MoxieBridge and acquired on behalf of Philadelphia-based Arden Group and Bahrain Bay-based bank Arcapita. The transaction was sourced through JLL (NYSE: JLL) in Dallas.
Located throughout 14 locations in the DFW market, including an Irving-Las Colinas location, the portfolio is currently 96% leased to 29 tenants.
“The DFW portfolio presented ALP with the ideal opportunity to continue accumulating mass in irreplaceable infill locations within top performing submarkets across the Dallas-Fort Worth market below replacement cost,” Craig A. Spencer, chairman & CEO of Arden Group and ALP, said in the release. “This is another exciting acquisition for ALP, and we’re pleased to expand our industrial footprint in the DFW Metroplex which is now approaching 2 million square feet of assets in the region.”