TradeLane Properties Acquires Former Retail Facility for Industrial Conversion in Fort Worth, Texas.
Dallas, TX – TradeLane Properties, a privately held industrial real estate company announces the acquisition of 1650 S. Cherry Lane, a former “big box’ retail facility totaling 120,200 square feet, in Fort Worth, Texas. This facility is situated on 8.52 acres with three drive-in doors, four dock doors, 18’ clear height, 1,600 amps of power, 201 auto stalls and a 370’ deep truck court.
Purchased within the TradeLane Properties U.S. Industrial Fund II, a value-add investment fund focused on key Central U.S. logistics markets, this investment was 100% vacant upon acquisition. As part of its investment strategy, TradeLane Properties has rezoned the premises to warehouse/distribution and will redevelop the facility to an industrial facility offering significant outside storage. Improvements include new LED lighting, significant asphalt and concrete work, security fencing, exterior and interior building paint, additional dock doors and new spec office space. The redeveloped asset is listed for lease with Todd Hubbard and Jake Blankenship with NAI Robert Lynn.
The acquisition of TLP 1650 Cherry LLC is consistent with TradeLane Properties’ strategy of investing in select major Central U.S. logistics markets with the opportunity to add value through dedicated in-house capabilities including Accounting, Construction, and Property Management teams.
TradeLane Properties would like to thank Todd Hubbard and Jake Blankenship with NAI Robert Lynn, Wintrust Bank, and Barack Ferrazzano Kirschbaum & Nagelberg LLP for their assistance in this transaction.
About TradeLane Properties
TradeLane Properties is a privately held industrial real estate company committed to harnessing its founders’ expertise in acquiring, developing, redeveloping, and operating industrial real estate facilities focused on the Central U.S. markets of Chicago, Cincinnati, Columbus, Indianapolis, Louisville, Atlanta, and Dallas-Fort Worth. For more information, visit www.tradelaneproperties.com or call Kari Lavezzi at (630) 320-5501.