DALLAS, August 5, 2021 – Six D-FW industrial buildings are in The Bendetti Co.’s acquisition.
By Steve Brown, Real Estate Editor, The Dallas Morning News, August 5, 2021
A Southern California investor - The Bendetti Co. - has purchased six Dallas-FortWorth industrial buildings.
The warehouses were acquired from seller CanTex Capital of Dallas and includealmost 300,000 square feet in Dallas, Fort Worth, Arlington and Grand Prairie.
Commercial property firm Jones Lang LaSalle marketed the buildings for sale.
“This portfolio sale marks our first full cycle value-add with lease-up,” RomitCheema, CEO of CanTex Capital, said in a statement.
The buildings are more than 80% leased. And the properties are located at 1209Round Table, 4924 Woodall St. and 8517 Directors Row in Dallas; 4901 Beach St.in Fort Worth; 924 111th St. in Arlington, and 1609 109th St. in Grand Prairie.
JLL’s Dustin Volz, Stephen Bailey, Matthew Barge, John Chun, Peter Thompson, Jarrod McCabe, Samuel Godfrey and Jordan Leakeworked on the sale.
Financing for the purchase was arranged with Bridge Investment Group.
The buyer plans to make other North Texas property purchases.
“Dallas-Fort Worth is a dynamic market with strong fundamentals and tremendous growth potential,” Aaron Weaver, CFO of the Bendetti Co., said in a statement. “With this acquisition, we are excited to be entering a new market and we seek additional assets in the Dallas-Fort Worth metro area that are well-aligned with our ongoing investment strategy.”
The Bendetti Co. is based in Irving, Calif., and is a more than 50-year-old real estate firm that builds, buys and manages industrial properties in the western U.S.
Before the D-FW property buy, The Bendetti Co. had holdings in California, Nevada, Utah and Colorado.
