CBRE Investment Management Announces Acquisition of Premier Dallas Logistics Park

CBRE Strategic Partners U.S. Value 9, a fund sponsored by CBRE Investment Management, has acquired McKinney National Business Park. The property, comprised of three newly constructed fully leased Class A industrial buildings totaling 481,000 square feet, is located at 1001 Harry McKillop Blvd. in the McKinney, Texas, suburb of the Dallas-Fort Worth metro area.

“We are pleased to announce the acquisition of this highly functional asset in a supply-constrained market with strong fundamentals that can offer a range of functional layouts and suite sizes to meet the needs of a wide range of clients,” said Topper Sheehy, Senior Director of Logistics Transactions for CBRE Investment Management. “The property, which has an average customer size of 80,000 square feet and became 100% leased within 12 months of delivering, has a current customer roster focused on local fulfillment distribution, which complements other logistics holdings in the fund portfolio.”

McKinney National Business Park can accommodate a range of users from 187,000 square feet to 35,000 square feet and benefits from a strategic location within an area experiencing substantial recent growth in single-family and multifamily projects and a 31% percent population growth over the past two decades.

"We are thrilled to see McKinney National Business Park become a strategic asset within CBRE Investment Management Strategic Partners' portfolio," said Denton Walker, Regional Partner at Transwestern Development Company. "This development is a testament to our commitment to creating high-quality, functional spaces that meet the evolving needs of tenants in rapidly growing areas such as McKinney, and we look forward to continuing to develop projects like this across Texas."

These highly visible buildings off Harry McKillop are also near major thoroughfares U.S. Route 75, which runs from Dallas to the Canadian border, and U.S. Route 380, providing direct access to the growing DWF metroplex with more than 2.8 million residents within a 25-mile radius.

“This property will benefit from the semiconductor and manufacturing activity north on U.S. Route 75,” Sheehy added. “As the population of the Dallas-Fort Worth metroplex steadily moves north, properties like McKinney National become even more important to bolstering our strategy in the area.”

McKinney National is currently 100% leased to five customers and consists of modern, institutional specifications for Class A product such as modern clear heights, 125 dock high doors, ESFR sprinklers and LED lighting.

“Customers at the property have already recognized the benefits of leasing in this prime location with its great amenities and are already expanding their presence at the park,” Sheehy concluded.

Newmark facilitated the transaction.

About CBRE Investment Management

CBRE Investment Management is a leading global real assets investment management firm with $142.5 billion in assets under management* as of June 30, 2024, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.

About Newmark Group, Inc.

Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of March 31, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,600 professionals around the world. To learn more, visit www.nmrk.com or follow @newmark.

About Transwestern Development Company

Transwestern Development Company (TDC®) strives to create value by skillfully executing development projects for our firm, partners and clients across the United States. Part of the Transwestern companies, our diverse portfolio encompasses logistics, multifamily, healthcare, life sciences, mixed-use and office product, with the value of projects in progress or delivered since 2012 exceeding $9.07 billion. The Texas Transwestern team currently has 5.5 Million Square Feet of industrial projects under construction.

Four dynamic, integrated companies make up the Transwestern enterprise, giving us the perspective to think broadly, deeply and creatively about commercial real estate. Clients and investors rely on us for expertise that spans institutional and opportunistic investment, development, hospitality, and brokerage and asset services. Our award-winning, collaborative culture empowers team members with resources and independence to work across boundaries in pursuit of innovative solutions, reinforcing a reputation for service excellence that translates to measurable results. Through offices nationwide and alliance partners around the globe, we positively impact the built environment and our communities while fostering a work climate that champions career vitality for all. Learn more at transwestern.com and @Transwestern.