Corinth Land Co. and Prattco Creekway
Fort Worth-based Corinth Land Co. with partner Prattco Creekway Industrial this week announced the purchase of a Class A Industrial building in the heart of the Frisco Sports Complex.
The state-of-the-art 50,000-square-foot facility is home to the popular Frisco Flyers, a nationally ranked volleyball organization. Built in 2018, the building is located at 6300 Flyers Way and sits on five acres.
Adding three acquisitions in the well-known Fort Worth Interstate-20 West Business Park, Corinth Land and Prattco’s latest acquisitions include 6595 Corporation Parkway, occupied by Lesiker Construction; 6597 Corporation Parkway, occupied by Cheer Connection of Texas, and 6576 Corporation Parkway, occupied by Summit Casing.
This is the ninth partnership acquisition of industrial space for Corinth Land and Prattco in North Texas. The purchase price for the recent property acquisitions was not disclosed.
“We continue to be bullish in investing in Class A Industrial space in Texas and the Southwest,” said Corinth Land founder and President Paun Peters in a statement. “We believe in the long-term value of these acquisitions and have a plan of continued growth for our asset portfolio.”
The investment duo sold a significant amount of their joint real estate portfolio last year which included a mix of multi-tenant and single-tenant buildings in some of DFW’s most coveted infill industrial submarkets that included Arlington, Brookhollow, Great Southwest, northeast Dallas/Garland and southwest Tarrant County.
“Our partnership over the years has been very strategic and selective with acquisitions during the construction/creation of our industrial portfolio throughout the southwest,” said Lance Bozman, Prattco managing partner. “These recent income producing deals add tremendous value to our base of holdings, and we expect them to perform well in this current environment.”
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 is now focused on the acquisition, development and operation of commercial and residential real estate assets in strategic locations throughout the DFW area, Texas and North America.
Bozman was formerly a managing director of a $1 billion AIG/Lincoln portfolio that comprised four million square feet of industrial and commercial investments. Prattco managing partner Chad Lunsford spent 20 years at GE Capital Real Estate with $4 billion in acquisitions serving in various management and leadership positions. Prattco managing partner Blake Bozman was formerly an operating partner with Drive Financial before selling the company in an almost $1 billion transaction to Spain’s Santander Consumer Finance. He currently sits on the board of Veritex Bank.