An international investment firm now owns an industrial park at DFW International Airport.
New York-based Brookfield Properties acquired the three-building Passport Logistics Center.
The 1.2 million-square-foot warehouse and distribution complex was developed by Dalfen Industrial, which has headquarters offices in Dallas and Canada. The buildings are at the south end of the airport near Airport Freeway and are part of the airport’s mixed-use Passport Park development.
Dalfen built the Passport Logistics Center in partnership with Brookfield, which now is the full owner of the business park.
“With the project’s prime location and best-in-class functionality, Brookfield Properties leased 50% of the project during construction,” Brookfield Properties officials said in a statement. “Over the past three years, Brookfield Properties has increased its footprint in the Metroplex, adding over 5.5 million square feet across nine transactions.”
During the last year, Brookfield has added more than $1.2 billion in logistics properties in the U.S.
Dalfen Industrial in turn has bought five industrial buildings in Fort Worth and San Antonio.
In Fort Worth, Dalfen acquired the new Mark IV Commerce Center, a three-building, more than 1 million-square-foot industrial park at Interstate 35W and Interstate 820. The buildings were developed by Crow Holdings Industrial.
Dalfen also purchased two industrial buildings north of San Antonio off Interstate 35.
“Best-in-class properties in exceptional infill locations make these acquisitions a natural fit for our rapidly growing portfolio,” Sean Dalfen, president and chief investment officer of Dalfen Industrial, said in a statement.
Dalfen Industrial now owns more than 4 million square feet of industrial buildings in Texas.