New York investor buys huge southern Dallas Amazon shipping hub
A New York investor has opened a huge Amazon shipping center in south Dallas.
KKR, a global investment firm, bought the Southlink Logistics Center on Cleveland Road near Interstate 20.
The more than 1 million square meter sales building was built by Hines of Houston and leased to Amazon this year.
The more than $ 41 million industrial project is one of two buildings in Texas that KKR has just bought from Hines for a total of $ 171 million. The other building is in Houston.
“As more consumers migrate to online shopping and expect a seamless delivery experience, the demand for modern logistics real estate in key markets continues to grow,” said Roger Morales, KKR partner and director of commercial real estate acquisitions in America, in a statement. “We are excited to meet this demand by enhancing our presence in the Dallas and Houston markets with the addition of these two high quality, stable assets.”
Both buildings house fulfillment centers and a total of 1.8 million square meters.
Stantec Architecture designed the Southlink Logistics Center acquired by KKR. And it was an Arch-Con Construction project.
KKR owns over 20 million square feet of industrial property in major US metropolitan areas.
The building in south Dallas that KKR acquired is just one of more than a dozen facilities in north Texas that Amazon operates. The online retail giant is the largest user of warehouse space in Dallas-Fort Worth with more than 13 million square feet of real estate.
The acquisition of KKR is the latest in a series of acquisitions by major industrial property investors in the region.
Warehousing and sales buildings are hot real estate with the pandemic increasing demand for shipping.
The more than 1 million square foot warehouse is located on Cleveland Road in south Dallas.(Arch-Con construction)