Holt Lunsford Commercial Investments, a market-leading commercial real estate investment and development firm in Dallas, announces the sale of a five-project portfolio to TA Realty, a real estate investment firm out of Boston. The sale includes nearly 700,000 square feet of shallow bay industrial development in major distribution submarkets across North Texas, including Lewisville, Carrollton, McKinney, and Richardson. Each of the assets, previously owned and developed by HLCI, broke ground in late 2020 and were delivered between May-August 2021.
“Infill industrial development has been a key part of our strategy over the last 12 months,” said Todd Marchesani, vice president of development for HLCI. “The industrial market is a top performing sector and we have seen growing demand for infill locations due to proximity to population density.”
The portfolio sale is a product of HLCI’s Fund I, a discretionary fund it has nurtured over the past three years that’s acquired 1.1 million square feet and developed 2.2 million square feet of shallow bay industrial. HLCI also closed on their Fund II in June 2020, a strictly industrial discretionary fund that seeks to invest in multiple markets across the sunbelt states. Fund II is already fully allocated and includes seven new developments–the first of which broke ground in October 2021.
“We have a great team at Holt Lunsford Commercial, both on the investment and service side, that continues to identify opportunities and execute with high conviction – requiring imagination and applied problem-solving,” said Hutton Lunsford, chief investment officer for HLCI. “We consider ourselves blessed to have such a loyal investor pool that continues to place bets with us. Their eagerness to deploy more capital speaks to our track record and affirms our industrial acquisition/development strategies in Texas and other markets.”