Fort Worth’s Fort Capital, which is moving from ground-up development to real estate investments, reports it sold more than 1.25 million square feet of Class B Industrial assets in the DFW market through two dispositions in the first month of the fourth quarter.
The sale included 18 buildings totaling 606,889 square feet of flex industrial space, and the sale of 4040 Forest Lane in Garland offered 649,361 square feet of warehouse space on 47.27 acres.
“We successfully executed our business plan of increasing occupancy, increasing rates on renewals, and completing several deferred maintenance projects,” Fort Capital said. “This enabled us to take these assets to market and deliver exceptional returns to our investors in these uncertain times.”
Fort Capital is also searching for a 1031 Exchange buyer. “Fort Capital must identify a property, or properties, matching our acquisition criteria within 36 days,” it said. “The deadline to identify properties is December 15, 2020. Any off-market submissions will remain confidential. As always, all brokers can trust they will be protected in a transaction.” Information: Hunter Harrison at [email protected].
Finally, Fort Capital CEO Chris Powers is out with his latest podcasts in his The FORT series. In one, Powers “outlines the underwriting process on industrial deals from start to finish making it simple to understand whether you’re green or a seasoned veteran. This episode will provide an outline for how these deals get done and the mistakes that a lot of people make along the way so you can deal smarter in the future.” Click here to listen.
And in another podcast, Powers interviews Zach Aarons & Aaron Block, co-founders of MetaProp VC. “On this episode, we discuss their journey to becoming partners, the NYC venture capital world, PropTech as an investable asset class, and their process for investing.” Click here to listen.
Got a real estate deal you want us to know about? Please send an email to Scott Nishimura, Fort Worth Inc.'s executive editor.