Ascentris and Huntington Industrial Partners Sell Dallas Industrial Property, 1201 Big Town
Denver, Colorado (June 27, 2019) – Ascentris, a Denver-based real estate private equity firm and Huntington Industrial Partners announced today the sale of 1201 Big Town, a 508,500 sf Class “A” industrial property located in Dallas, TX. Matt Dornak and Ryan Wolcott of Stream Realty Partners leased the property for the partnership while Adam Herrin and Stephen Bailey of HFF marketed the property for sale. The buyer and sale price were not disclosed.
Ascentris partnered with Huntington Industrial Partners, a fully integrated industrial owner and operator, to acquire 1201 Big Town in May 2013. The investment was part of Ascentris’ broader industrial strategy which targeted the acquisition and rehabilitation of well-located but undervalued industrial properties across the United States. Constructed in 2007, the property features a cross-dock configuration, 32’ clear heights, four access points and is located within the East Dallas submarket of Mesquite, offering tenants immediate proximity to Interstate-30 and Interstate-635. During its ownership, the partnership executed over 388K sf of leases, including a new lease with Hayes Company that was executed in early 2019.
“Dallas has been a terrific industrial market for us this cycle, and we are very pleased with the outcome of this investment” said Ascentris Managing Director Tricia Noble. “Huntington and Stream did a great job of securing the Hayes lease and successfully stabilizing the Property,” added Noble.
“The strategy developed with Ascentris combined with the continued strength of the Dallas / Fort Worth market has led to excellent results and returns for our acquisitions and developments in this market.” said Huntington partner Steve Meyer.
About Ascentris
Ascentris is a real estate private equity firm based in Denver, Colorado. With over $1.3 billion in assets under management, Ascentris manages a series of fully discretionary institutional vehicles targeting core, value-add and opportunistic investments across all the major property types and geographic regions within the United States. Since 2003, Ascentris’ management team has relied on an investment philosophy that results in its clients getting to opportunities ahead of the market while receiving an unmatched level of service, transparency and accountability. Ascentris is a privately held and employee-owned SEC-registered investment adviser that maintains an unwavering commitment to put its clients’ needs first. Additional information is available at www.ascentris.com.
About Huntington Industrial Partners
Huntington Industrial Partners is an industrial real estate operating company with a strategic focus on acquiring and developing infill industrial properties in select U.S. markets. Huntington has offices in Atlanta, Dallas, Denver and San Francisco that are staffed by local teams with extensive industrial experience, local market knowledge, and established networks of market contacts. For more information, please visit http://www.huntingtonindustrial.com/.