Corinth, Prattco Buy Industrial Facility in Oklahoma City
Corinth Land Co. of Fort Worth and Prattco Creekway Industrial of Dallas have purchased a two-building, 121,600-square-foot industry facility in Oklahoma City’s Southwest Industrial Market.
The buildings are on 14.3 acres at 6200 & 6220 S.W. 29th St., Corinth and Prattco said in a release. The purchase was financed by Veritex Bank, with majority equity provided by Western Production Co., and closed on March 29.
“As our first JV investment in Oklahoma City, we look forward to being a part of one of the city’s most dynamic submarkets,” Paun Peters, president and founder of Corinth, said in a release. “This is our largest Class A acquisition to date, and we are 100% leased. It’s a great entry point for us into this market.”
Tenants include Fred Jones, Overhead Door Corp., TireHub and Science Applications International Corporation. This is the 10th partnership acquisition for Corinth Land and PCI, marking an investment of more than $50 million and about 700,000 square feet of industrial space in their portfolio.
“The Southwest Industrial Market is a high growth area with unlimited potential,” Lance Bozman, PCI managing partner, said. “Without a doubt, it is a market we would like to expand our portfolio and grow our base.”
Founded by Peters in 2006, Corinth Land Co.’s initial focus was providing oil and gas surface sites and easements in the Barnett Shale. Peters sold the company’s holdings in 2016 and today is focused on the acquisition, development and operation of commercial and residential real estate assets throughout DFW, Texas and North America.
PCI Managing Partner Lance Bozman was formerly a managing director of a $1 Billion AIG/Lincoln portfolio comprising 4 million square feet of industrial and commercial investments. PCI Managing Partner Chad Lunsford spent 20 years at GE Capital Real Estate and has a deep background in risk management, underwriting and operations serving in various management and leadership positions.
Transwestern Deals
Transwestern announced several real estate transactions:
- Cockrell Printing signed a new 32,355-square-foot industrial lease at 1001 N.E. Loop 820 in Fort Worth. Transwestern’s Todd Hawpe and Jeff Givens represented the landlord, Northbrook 820, LLC.
- Texas One Source signed a new 30,380-square-foot industrial lease with Conti Edgecliff-Sias, LLC in Fort Worth. Transwestern’s Garrison Lackey and Lyndon Todd represented the tenant.
- TeaBevCo, LLLP signed a new 25,692-square-foot industrial lease at 500 Railhead Road in Fort Worth. Transwestern’s Todd Hawpe and Jeff Givens represented the tenant.
- Greenwood Office Outfitters signed a new 12,000-square-foot industrial lease with Adder Felix Ltd Partnership at 130 E. Felix St. in Fort Worth. Transwestern’s Todd Hawpe and Jeff Givens represented the landlord.
- Bighorn Construction and Reclamation extended and expanded to 36,331 square feet at 777 Main in Fort Worth. Transwestern’s Whit Kelly and Dallas Margeson represented the landlord in the transaction, Brookdale Group.
- Chisholm Energy renewed its 22,338-square-foot office lease at 800 Cherry St. at Burnett Plaza in Fort Worth. Grant Huff with Transwestern represented Chisholm Energy. Jack Clark with Red Oak Realty represented the landlord, Burnett Plaza LP.
- Vista Sands signed an 8,501-square-foot office lease at 6050 S.W. Blvd. in Fort Worth. Transwestern’s Grant Huff represented both sides in the transaction.
- 950 W Magnolia LLC signed a new healthcare office lease for a tenant totaling 7,799 square feet. Transwestern’s Theron Bryant and Casey Tounget represented the landlord.
- 3015 Avenue E, a 58,720-square-foot industrial property located in Arlington, recently sold to KPAK. Transwestern’s John Brewer and Riley Maxwell facilitated the transaction.
- 6701 Will Rogers Blvd., a 40,000-square-foot industrial building in Carter Industrial Park, recently sold to PJ Ranches, LP. Vicki Tsan with the Tsan Group represented the seller. Grant Huff with Transwestern represented the buyer.
- A 25,940-square-foot industrial property was purchased at 612 Burlington Road in Saginaw. Transwestern’s Todd Hawpe and Jeff Givens facilitated the transaction.
- A 20,625-square-foot industrial property was purchased at 511 S. 5th Ave. in Mansfield. Frank Jester, Todd Hawpe and Jeff Givens with Transwestern facilitated the transaction on the buyer and seller side.
Got a real estate deal you want us to know about? Please send an email to Scott Nishimura, Fort Worth Inc.'s executive editor.
- 850 Railhead, a piece of land in Fort Worth recently sold. The site is 9.78 acres. Transwestern’s Todd Hawpe, Jeff Givens and Garrison Lackey facilitated the transaction.