Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd., has purchased the Dallas Cowboy's Distribution Center, a 400,000-square-foot facility near Dallas/Fort Worth International Airport, from KBS Real Estate Investment Trust II for $22.3 million. KBS began marketing the single-tenant logistics facility earlier this year after owning the property's ground lease to the distribution center since July 2010, when it purchased the building and 40-year ground lease for $19 million. The sale of the building, which is 100 percent leased to the Cowboys, won't become finalized until after the real estate transaction closes, according to a Dallas Business Journal article. If the deal doesn't go through, Invesco could forgo $200,000 in earnest money.
The property sits on 21.2 acres of land at 2500 Regent Blvd. with major tenants including Aviall/Boeing, Amazon.com, Pratt & Whitney, DHL and DB Schenker. Jack Fraker, Josh McArtor, Jonathan Bryan, and Heather McClain Venegoni of CBRE will market the Cowboys Distribution Center along with the National Partners Team, local market experts in each location and Scott Lewis, an expert in CBRE’s Debt & Structured Finance group, according to a GlobeSt.com report.
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