North Texas Firms Acquire Two Course-A Buildings in Oklahoma Town | Business
FORT Really worth, Texas–(Company WIRE)–Apr 27, 2021–
Located within Oklahoma City’s dominant Southwest Industrial Market, a two-constructing, 121,600 sq.-foot, very best-in-class industrial facility has been obtained by Fort Really worth-primarily based Corinth Land Co. and Dallas-based Prattco Creekway Industrial (PCI). The structures are on 14.3 acres located at 6200 & 6220 SW 29 th St. The invest in was financed by Veritex Lender with majority fairness furnished by Western Production Organization, and shut March 29, 2021.
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Fort Well worth-dependent Corinth Land Co. and Dallas-based Prattco Creekway Industrial (PCI) have purchased two Course A properties, 121,600 SF, found inside of Oklahoma City’s dominant Southwest Industrial Sector. This is the 10th partnership acquisition for Corinth Land and PCI, marking an financial investment of much more than $50 million and roughly 700,000 SF of industrial place in their portfolio. (Photo: Troy Grant, Epic Foto Team)
“As our to start with JV investment in Oklahoma City, we search ahead to staying a part of a person of the city’s most dynamic submarkets,” claimed Corinth Land Co. President and Founder Paun Peters. “This is our greatest Course A acquisition to day, and we are 100 % leased. It’s a excellent entry level for us into this industry.”
Tenants include things like Fred Jones, Overhead Door Corporation, TireHub and Science Programs Global Company (NYSE SAIC). This is the 10th partnership acquisition for Corinth Land and PCI, marking an expenditure of far more than $50 million and around 700,000 SF of industrial place in their portfolio.
“The Southwest Industrial Sector is a higher advancement spot with limitless opportunity,” reported Lance Bozman, PCI taking care of associate. “Without a question, it is a market place we would like to develop our portfolio and grow our foundation.”
Launched by Peters in 2006, Corinth Land Co.’s original aim was giving oil and gas area web sites and easements in the Barnett Shale. Peters marketed the company’s holdings in 2016 and is now targeted on the acquisition, development and operation of commercial and residential real estate assets in strategic locations all through the DFW place, Texas and North The us.
PCI Running Husband or wife Lance Bozman was formerly a controlling director of a $1 Billion AIG/Lincoln portfolio that comprised 4 million SF of industrial and professional investments. PCI Managing Companion Chad Lunsford expended 20 several years at GE Cash Genuine Estate and has a deep background in chance administration, underwriting and functions serving in many management and leadership positions.
For extra information and facts, visit www.corinthland.com or www.prattcocreekway.com.
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Supply: Corinth Land Co.
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PUB: 04/27/2021 09:30 AM/DISC: 04/27/2021 09:30 AM
Copyright Company Wire 2021.
