Arcapita Group Holdings, a global alternative investments firm, has reported the acquisition of Cedardale Distribution Center, a Class A+ distribution facility in Dallas, in the US state of Texas, leased to FedEx Ground.
The property was built in 2018 and is an integral part of FedEx’s distribution network in the Southern United States.
The FedEx office is the recent addition to Arcapita’s US industrial real estate portfolio, following the new procurement of16 industrial properties in Cleveland, Ohio, and Indianapolis, Indiana. These acquisitions address a consolidated transaction estimation of more than $200million and approximately3 1,000,000 square feet of US industrial real estate space across key distribution markets.
The securing is essential for Arcapita’s broader US industrial real estate strategy which targets single-rented resources rented on a long-term basis and multi-rented resources inside the last mile and light industrial sectors.
The US industrial real estate has demonstrated to be downturn tough with maintained, high inhabitance levels during recessionary periods because of the mission-critical nature of warehousing and distribution facilities. Most as of late during the COVID-19 pandemic, the industrial area altogether beat different areas including office, retail, and hotel.
Cedardale Distribution Center is situated in Dallas-Fort Worth; the fourth-biggest metropolitan territory in the United States including around 9,300 square miles and a populace of over 7.5 million individuals. The office appreciates an appealing location featured by the presence of several prominent and Fortune 500 organizations in its area, including Amazon, Unilever, L’Oreal, Freightliner, and Quaker, among others.
Brian Hebb, Head of US Real Estate at Arcapita, said: “The logistics sector is a key focus area for Arcapita. We have recently completed several acquisitions in the sector and as part of our broader strategy, we are focused on acquiring highly functional properties leased to investment grade tenants on a 10-15-year basis. We look forward to working with our partners to acquire additional assets in the months to come.”
Martin Tan, Chief Investment Officer at Arcapita, added: “Arcapita has a strong track record of investing in the logistics sector, having managed and exited over $5.5 billion in logistics real estate transactions globally. With the accelerated growth of e-commerce and increasing supply chain sophistication, the demand for modern logistics and warehousing space will grow exponentially. We intend to leverage our experience to capitalize on this growth.”