HFF announces capital raise for development of Class A industrial facility in Dallas-Fort Worth
DALLAS, TX – February 7, 2018 – HFF announces the capitalization of Gateway Logistics Center, a five-building, Class A+ industrial project totaling 1.4 million square feet onsite at Dallas/Fort Worth International Airport (DFW Airport).
The HFF team worked on behalf of the developer, Marty McFarland and Tom Leiser of Dallas-based Bandera Ventures, to arrange a joint venture equity partnership with Boston-based Long Wharf Capital. Additionally, working on behalf of the partnership, the HFF team secured a construction loan from Bank of the Ozarks. The development commenced in late 2017 and will deliver buildings beginning in the fall of 2018.
Gateway Logistics Center will be located on 86 acres in the southeast corner of DFW Airport’s land near the south entrance. The property has direct frontage on and access to Highway 183 and will also be accessible from Valley View Lane and the to-be-built Passport Drive. Strategically situated in the center of the Dallas-Fort Worth metroplex, the property’s location is ideal for industrial users seeking excellent accessibility, visibility and a direct connection to the country’s third busiest airport and largest economic driver in North Texas. The project will feature three state-of-the-art cross-dock buildings ranging from 250,000 to 380,000 square feet that will have 32- to 36-foot clear heights, deep truck courts, plentiful dock doors and trailer storage on each side. Two 200,000- to 250,000-square-foot rear-load buildings with 28- to 32-foot clear heights will complete the development and are designed to accommodate users of 25,000 to 75,000 square feet, including those that require store front operations.
The general contractor for the project will be FA Peinado. Teddy Peinado, founder and CEO, was selected by the United States Hispanic Chamber of Commerce as Business of the Year in 2017. The project will be leased by Mark Hayes of HPI Real Estate Services & Investments. The project is part of DFW Airport’s Passport Park mixed-use development, one of the last available sites at the airport, which is managed by the DFW Airport Commercial Real Estate team of John Terrell, Mark Witte, Smitha Radhakrishnan and John Brookby. DFW’s Jeremy Breinholt will lead project management on behalf of the airport. Bandera Ventures and FA Peinado will complete the major infrastructure improvements to Passport Park, allowing DFW Airport to facilitate new development and investment within the project.
The HFF team included executive managing director Joe B. Thornton, Jr. and managing director Adam Herrin. The Bank of the Ozarks team included managing director Tucker Hughes and senior vice president Langford Stuber.
Holliday GP Corp. (“HFF”) is a Texas licensed real estate broker.
About Bandera Ventures
Bandera Ventures was founded in May 2003 by Pryor Blackwell, Charles Anderson and Thomas Leiser following successful careers with the Trammell Crow Company in Dallas. With the addition of Martin McFarland in 2016, Bandera has over 130 years combined experience in commercial real estate development and acquisition encompassing in excess of 50 million square feet of development expertise. Bandera’s business strategy is centered around a focus on office, industrial, retail, air cargo/logistics facilities and build-to-suit opportunities. Bandera has previous experience with on-airport development at DFW Airport and other airports in the United States and Canada. For further information, visit banderaventures.com.
About Long Wharf Capital
Long Wharf Capital LLC is a Boston-based private equity real estate manager focused exclusively on value-added investments in the U.S. Formed in 2011, the firm invests on behalf of institutional clients including pension funds, endowments, foundations and family offices. Long Wharf’s investment approach utilizes multiple value creation strategies to target opportunities across property sectors and U.S. markets. For further information, visit longwharf.com.
About HPI Real Estate Services & Investments
HPI Dallas strives to responsibly manage and lease commercial properties in the Dallas-Fort Worth area. Its partner, John Hardaway, is responsible for all business development efforts, including principal investment and third-party leasing and management services with a focus on office and industrial product types. While at HPI, John has been involved in the acquisition, development and financing of over $800 million of office, industrial, multifamily and retail projects. For further information, visit hpitx.com.
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.