Crow Holdings JV Sells Recently Built Fort Worth Warehouse
A real estate fund advised by Crow Holdings Capital and Creation Equity have sold Northmark Commerce Center, a 234,475-square-foot industrial facility in Haltom City, Texas.
The Class A property was completed early last year. Designed by LGE Design Build, Northmark Commerce Center broke ground in November of 2021 with $16 million in construction financing provided through Inwood National Bank.
Situated in the North Fort Worth industrial submarket, the asset features a 32-foot clear height, ESFR sprinklers, 56 dock doors, 132 car parking spaces, 19 off-dock trailer slots and a secured drop site with an additional 104 trailer stalls. Northmark Commerce Center provides single- and multi-tenant flexibility, and a cross dock configuration.
Ryder System Inc. fully occupies the facility. According to CommercialEdge data, the logistics and transportation company has been leasing the center since June of 2023.
A last-mile location
Built on a 20.5-acre lot, Northmark Commerce Center is located at 3951 Old Denton Road. Interstates 35 West and 820 offer easy transportation access to the Dallas and Fort Worth metros as well as the larger Texas area. The AllianceTexas 27,000-acre master-planned development is nearby the property, with commercial and residential benefits.
Downtown Fort Worth is some 6 miles from Northmark Commerce Center, while downtown Dallas is approximately 33 miles away. The Dallas-Fort Worth International Airport is 17.6 miles from the facility.
Newmark’s President, Global Head of Industrial & Logistics Capital Markets Jack Fraker, Vice Chairmen Dustin Volz and Stephen Bailey, Senior Managing Director Dom Espinosa, Managing Director Zach Riebe and Associates Taylor Hare and Chloie Mercer represented the sellers in the transaction.