An Illinois investor has taken a new logistics building in DeSoto.
The Southfield Park 35-5 building is a 489,310-square-foot industrial property on Jo Drive near Danieldale Road. The warehouse was developed last year by Atlanta-based Seefried Industrial Properties and investor Affinius Capital — formerly USAA Real Estate.
The almost 34-acre Southfield Park 35 industrial campus just sold to an affiliate of Chicago-area based TradeLane Properties.
Jones Lang LaSalle’s Trent Agnew, Tom Weber, Pauli Kerr, Parker McCormack, Matthew Barge and Keenan Ryan arranged the sale. Terms of the transaction were not disclosed, but the building is valued for taxes at more than $42 million.
The building is located about a mile from Interstate 20 and about two miles from Interstate 35E.
Buyer TradeLane Properties is a private real estate investor with holdings in Chicago, Cincinnati, Columbus, Indianapolis, Louisville, Dallas-Fort Worth and San Antonio.
The investor also just purchased a five-building industrial park adjacent to George Bush International Airport in Houston. “This transaction is consistent with TradeLane Properties’ strategy of investing in select major Central U.S. logistics markets,” company officials said about the Houston purchase.
TradeLane also owns four warehouses in Dallas, Fort Worth and North Richland Hills.
Dallas-Fort Worth is one of the country’s top markets for industrial building investments. More than $2.8 billion in North Texas industrial properties changed hands in the first nine months of 2023. D-FW also is the fastest growing U.S. industrial building market with about 49 million square feet of construction.
