TA Realty has obtained $52 million in refinancing for Carter Park Distribution Center, a 970,000-square-foot industrial campus in Fort Worth, Texas, according to CommercialEdge information. Empower Annuity Insurance Co. provided the funds.
The loan has a maturity date set for 2028 and replaced a previous, $38 million note issued in 2023 by the same lender, the same source shows.
The Class A industrial campus has three buildings—two measuring 385,000 square feet each and a third of 200,000 square feet. Tenants at the property include Lineage and Castle & Cooke Cold Storage, CommercialEdge data shows. TA Realty acquired the asset in 2016 from Lineage.
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Built in 1999, the three buildings are at 6440 Oak Grove Road and 6401–6445 Will Rogers Blvd. All buildings include 30-foot clear heights, ESFR sprinkler systems, refrigerated storage capabilities, ample column spacing, cross-dock configuration and loading doors. Additionally, the campus is rail served, and each building includes loading doors, a truck court and 82 vehicle parking spots.
The 56-acre industrial park is near interstates 30 and 20 and is 14 miles from Fort Worth Meacham International Airport. Dallas is 37 miles away.
TA Realty’s three-building property is next to Carter Park East, a master-planned industrial project developed by a joint venture of Clarion Partners, Crow Holdings Co. and Rob Riner Cos. Encompassing 556 acres, the multi-phased project is expected to total up to 7 million square feet of industrial space.
Metroplex industrial assets draw significant debt financing
Earlier this year, an affiliate of WPT Capital Advisors landed a $72.4 million loan for the acquisition of two warehouse buildings in North Fort Worth, Texas. LBA Realty sold the nearly 1.1 million square feet properties while PCCP provided the acquisition funds.
In January, a joint venture of ForeFront Commercial Real Estate and an Ares Management Real Estate fund secured a $77.4 million loan for a 992,000-square-foot project in the same area. The property, dubbed West Worth Commerce Center, will include four buildings located just off Interstate 820.