JLL Capital Markets has closed the sale of HWY 114 Distribution Center, a newly completed Class-A industrial building totaling 568,632 square feet in Roanoke, Texas.
JLL represented the seller, Provident Realty Advisors, in the sale to Cohen Asset Management.
Delivered in 2021, the cross-dock building features 119 dock doors, 36’ clear heights and 229 parking spaces. HWY 114 is 100% leased to UNIS, a third-party logistics provider based out of Buena Park, Calif. with over 12 million square feet and 45 locations across 16 major U.S. markets.
Positioned on 68.6 acres at 1230 W Highway 114, the property is strategically located two miles east of the intersection of Interstate 35 and State Highway 114 in the North Fort Worth (Alliance) Industrial submarket. The area benefits from its accessibility to major highways, including Interstates 35 and 820 and State Highways 81 and 114.
As a result, tenants can reach the 25 million residents of the Texas Triangle, the area between Dallas-Fort Worth, Austin, San Antonio and Houston, within five hours. Furthermore, HWY 114 Distribution Center is 14 minutes from Dallas-Fort Worth International Airport and 10 minutes from Fort Worth Alliance Airport.
Led by John Bunten and his team, the Provident Industrial Portfolio currently consists of twelve projects totaling 1,535 acres for speculative and build-to-suit warehouse developments across the southern United States. PRA has an interest in an additional 347 acres in South Carolina, Tennessee and Texas.
The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Directors Dom Espinosa and Zach Riebe and Analyst Matthew Barge.