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Southern Dallas FedEx shipping hub sells to NY investor

Trammell Crow Co.’s Cedardale Distribution Center is the latest to sell.

A southern Dallas shipping hub is the latest North Texas industrial property to be snapped up by investors.

The Cedardale Distribution Center near Interstate 20 is more than 776,000 square feet and is leased to FedEx as a package-handling center.

An investor represented by New York-based Global Securitization Services LLC just purchased the big warehouse which was constructed in 2018 by Trammell Crow Co. and Morgan Stanley.

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The distribution building is the first phase of a 106-acre, 1.5 million square foot business park Crow Co. plans near Bonnie View Road.

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The just-completed sale of the first building in the project was financed with a $50 million loan from Principal Life Insurance, county records show.

FedEx opened the shipping center in the Cedardale building in November of last year.

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The southern Dallas industrial building sale is one of several major warehouse properties to recently change hands in the Dallas-Fort Worth area.

North Texas is the country’s fastest growing industrial building market with more than 26 million square feet of space on the way.

Almost 8 million square feet is being built in southern Dallas County.

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