October 12, 2018
DALLAS – Transwestern today announces it brokered the acquisition of two Class A industrial properties in Dallas’ Pinnacle Industrial Park by Cohen Asset Management Inc. at an undisclosed price. The buildings total more than 1.33 million square feet and were 100 percent leased at the time of the sale. Transwestern Senior Vice President Steve Rowland provided acquisition services on behalf of Cohen.
Pinnacle Park I at 3700 Pinnacle Point Drive is a 1.01 million-square-foot, bulk industrial distribution building on 47.48 acres. It offers 178 exterior docks, six drive-in doors, cross docks and 32-foot ceiling heights. Pinnacle Park II at 3801 Pinnacle Point Drive comprises 327,600 square feet on 13.44 acres. The industrial warehouse property features 62 exterior docks, three drive-in doors and 30-foot ceiling heights.
Constructed in 2001, the two properties are located in one of the region’s most successful warehouse and distribution markets, just south of Interstate 30 and west of downtown.
“With an outstanding infill location and rents on the ascent, this high-quality project offered the buyer a unique opportunity to grow its footprint in Dallas-Fort Worth’s vibrant industrial market,” said Rowland. “Cohen’s goal is to create long-term value while driving near-term returns. This prominent, fully leased asset achieved both objectives.”
Cohen now has more than 3 million square feet of industrial holdings in the DFW metroplex.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Occupier Solutions, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 211 offices in 36 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.
Established in 1992, Cohen Asset Management, Inc. (“CAM”) is a premier national real estate owner and operator of highly functional industrial properties including fulfillment, warehouse and distribution centers, manufacturing facilities and infill/last-mile properties that provide solutions for the growing 21st century e-commerce economy and global supply chain. Our investors benefit from our commitment to investment excellence, disciplined investment approach based on market fundamentals, depth of market knowledge, asset management capabilities and organizational strength. With headquarters in Southern California and an office in Northern New Jersey, our cross-country reach enables us to actively manage a national portfolio. Having collectively acquired, developed and sold over $3B of real estate throughout the United States, our principals have hands-on experience over many market cycles, spending virtually their entire business careers in real estate. Our multi-disciplinary team includes in-house Acquisition, Asset Management, Administration, Compliance, and Accounting capabilities. Please visit www.cohenasset.com for more information.