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Scannell Properties sells Dallas-Fort Worth distribution facilities

The Denton Crossing portfolio totaled 1.0 million square feet across two facilities, including 281,000 square feet and nearly 420,000 square feet buildings on 44 acres.

Reported · Written up by our desk · Industry

Bisnow reports that Scannell Properties has divested Dallas-Fort Worth distribution centers, with Cushman & Wakefield facilitating the transactions for the same client.

In Denton, Scannell sold the 701,000-square-foot Denton Crossing industrial property and the 335,000-square-foot 820 Crossing distribution center in Haltom City in separate deals, according to Bisnow.

NorthPoint Development acquired the Denton Crossing facilities, which include a 281,000-square-foot building and a nearly 420,000-square-foot building on 44 acres, while Washington Capital Management purchased the 820 Crossing site, Bisnow said.

Cushman & Wakefield described the Denton Crossing deal as a rare chance to buy a recently delivered Class A industrial product with in-place cash flow and existing vacancies, and noted the properties benefit from proximity to I-35 and other demand drivers, the outlet reported.

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