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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Hulen Pointe Shopping Center sold

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Dallas-Fort Worth in top five commercial real estate markets in 2015

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Social House Fort Worth plans to open mid-November

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Fort Worth temporarily stops issuing new home permits in TCU area

The moratorium will give a committee and the City Council time to review a proposed overlay that will pare the number of permissible unrelated adults living in the same house.

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Allstate Insurance Irving campus acquired

A. Lee Graham

Reporter

 An Irving office campus currently occupied by Allstate Insurance Co. is among three properties acquired this week by Cole Corporate Income Trust Inc.

The Irving campus comprises three interconnected three-story office buildings, one five-story office building and one single-story flex industrial building. Through a sale-leaseback transaction, Allstate will occupy the campus under a 12-year lease, plus renewal options.

In addition to the  458,338-square-foot Irving campus, Phoenix-based Cole also acquired The Men’s Warehouse corporate campus in Houston and the Harvard Vanguard Medical Associates office building in Boston.

“These high-quality assets exemplify CCIT’s investment criteria,” said Robert Micera, chief investment officer for office and industrial at Cole, commenting in a news release.

“Strategic properties with creditworthy corporate tenants, under long-term net leases, are our primary target. These properties are well-located in major MSAs [metropolitan statistical areas] and are mission-critical for the corporate tenants,” Micera said.

With the new transactions, Cole’s real-estate portfolio comprises 35 wholly owned properties in 17 states, totaling about 5.6 million square feet and with an aggregate purchase price totaling about $921.1 million.

Cole Real Estate Investments Inc., a real-estate investment trust, acquires and manages real estate assets leased long-term. As of March 31, 2013, it owned $7.7 billion of gross assets, which included 1,013 properties representing about 43 million square feet of commercial real estate in 48 states. More information is available at www.colereit.com.

 

lgraham@bizpress.net

 

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