JLL Capital Markets has closed the sale of Star Commerce Center IIIB, a Class A industrial warehouse totaling 177,510 square feet in the North Dallas Suburb of Frisco, Texas.
JLL represented the seller, Blue Star Land, in the sale to Lincoln Property Company.
Star Commerce Center IIIB, which was completed earlier this year, is fully leased to a diverse group of tenants, including Shield AI Inc. and Stryve Foods, LLC. The rear-load warehouse offers 32-foot clear heights, 41 dock-high doors, three drive-in doors, a 210-foot truck court, 210 parking spaces and 27.6% office finish.
Positioned on 10.52 acres at 16240 Gateway Path within the Northeast Dallas submarket, Star Commerce Center IIIB provides exceptional north-south and east-west accessibility, connecting the property to Dallas-Fort Worth’s fastest-growing population centers as well as regional access to the Texas Triangle, the area between Dallas-Fort Worth, Houston, San Antonio and Austin. This area makes up the seventh-largest mega-region in North America and ranks amount the world’s 15 largest economies. Furthermore, over the next 40 years, the region’s population is expected to grow by more than 65%.
According to JLL’s Dallas-Fort Worth Industrial Insight Q3 2022, the region’s demand for space has the Dallas-Fort Worth industrial market leading the nation in construction activity. Deliveries and kick-offs kept construction activity over 60 million square feet for the second consecutive quarter and led the nation in construction for the fourth consecutive quarter. Even after a record-setting year in 2021, year-to-date leasing activity was 2.3% higher than the same time last year with nearly 38 million square feet accounted for through the third quarter.
The JLL Capital Markets Investment Advisory 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.
