A venture between San Juan Capistrano, CA-based Birtcher Anderson & Davis, LLC and Belay Investment Group has recently closed on a $47.5 million purchase of eight (8) industrial properties in the greater Dallas/Fort Worth area, comprised of 18 buildings totaling 609,639 sf, and home to 82 tenants. The seller, Fort Worth-based Fort Capital was represented by JLL.
“The incredible resilience these properties have demonstrated during the pandemic bolsters our belief in the bright future of the shallow bay industrial sector, particularly in the strong, diverse and business-friendly DFW market. Our business plan includes capital upgrades and an aggressive leasing program to address some current vacancy as well as to capture rising rental rates as a significant number of leases expire during the next thirty months”, notes Bob Anderson, Co-Chairman of Birtcher Anderson & Davis.
“The DFW Portfolio fits within our value-add industrial strategy which targets attractive risk-adjusted returns, which are hard to find in the current market, especially in the hyper-competitive industrial sector. This is a portfolio that requires hands-on attention, and we are thrilled to be working with Birtcher Anderson & Davis on the execution of the business plan,” said Eliza Bailey, Managing Principal, Belay Investment Group. “We look forward to completing additional portfolio acquisitions with Birtcher Anderson & Davis in the shallow bay industrial space and across their target markets later this year and throughout 2021.”