Houston-based Hines Buys Industrial Park Near DFW Airport

Houston-based property firm Hines has purchased an industrial park near DFW International Airport.The DFW East Logistics Center that Hines acquired is a 259,555-square-foot, 3-building property near State Highway 161.The 18-acre property is just 15 percent leased to Universal Health Services and Bisco Industries."DFW East Logistics Center is a high-quality asset in a strategic location and with 220,000 square feet available," Hines Director Connor Tamlyn said in a statement. "We are excited to add this property and location to the Hines logistics portfolio, which is now approaching 2 million square feet. "We look forward to significantly expanding our logistics presence in the Dallas-Fort Worth Area."Jonathan Bryan and Randy Baird at CBRE brokered the sale. Terms of the transaction were not disclosed.Stream Realty Partners is leasing the property.  Continue reading...