DALLAS, Jan. 10, 2022 - JLL Capital Markets announced today that it has closed the sale of and arranged acquisition financing for a two-property, shallow-bay industrial portfolio totaling 271,100 square feet in the highly sought-after, infill DFW Airport Industrial submarket in the Dallas-area community of Irving, Texas.

JLL marketed the property on behalf of the seller, Fort Capital. Pegasus Real Estate acquired the asset. Additionally, working on behalf of the new owner, JLL arranged the floating-rate acquisition loan.

The portfolio comprises the fully leased, 92,051-square-foot building at 4040 Royal and the 12-building, 93-percent-leased Commerce Center at 4823-4845 West Royal Lane and 8400-8432 Sterling Street. Completed between 1981 and 1999, the high-performing shallow-bay assets have clear heights ranging from 12 to 18 feet, seven dock-high doors, two drive-in ramp doors, 39 ground-level doors and high office finish.

The portfolio's location positions it proximate to the Dallas-Fort Worth International Airport and with easy access to State Highways 114 and 121 along with the LBJ Freeway (Interstate 635). This location facilitates access to Dallas' growing population that is expected to add 461,800 new residents and 129,100 new jobs by 2023.

Dallas-Fort Worth's industrial market has experienced record-setting demand and absorption, which is anticipated to continue into 2022. The portfolio is within the DFW Airport Industrial submarket, which, according to JLL Research, has a low six percent vacancy at the end of the third quarter of 2021.

The JLL Capital Markets Investment Advisory team representing the seller was led by Managing Director Stephen Bailey, Senior Managing Director Dustin Volz and Analysts Wesley Gilmer and Pauli Kerr.

The JLL Capital Markets Debt Advisory team representing the new owner included Senior Managing Director Dustin Dulin and Analyst Wyatt Simmons.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Inc. published this content on 10 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2022 15:37:10 UTC.