Dallas-based Apricus Realty Capital added another highly desirable industrial outdoor storage (IOS) property to its portfolio by acquiring the fully leased 1500 High Meadows in Cedar Hill, Texas.
Apricus acquired the property in a programmatic joint venture with ABR Capital. Apricus Managing Principal Matt Haley, Vice-President Garrett Marler and Associate Cort Martin led the acquisition for the joint venture. Noah Dodge and Blair Oden Jr. of Colliers represented the seller. CW Sheehan, Peyton Ackerman and Nate Henderson of JLL represented the joint venture in the procurement of debt financing.
Located just 19 miles southwest of Dallas, Cedar Hill offers a strategic position between major metro areas, making it an ideal location for IOS operations, Haley said. The acquisition, structured as a sale-leaseback with Highway Intelligent Traffic Solutions—a leader in design-build for commercial, industrial and transportation projects—adds another quality tenant to the Apricus portfolio.
The 7.5-acre site features an 18,000-square-foot building with an HFT service building and office space. HFT, or High Flow Through, refers to a building design optimized for the efficient movement of goods and vehicles, making it a critical component of IOS properties. This design ensures seamless operations by facilitating quick loading, unloading and transportation.
