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February 21, 2024
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Basis Industrial Buys 161k sf TX Industrial Park

1/22/24

Basis Industrial purchased Blue Smoke Portfolio, a 161.4k sf, shallow-bay infill industrial park with 1.5 additional acres of land in Fort Worth, TX. The price was not given out.

The portfolio includes eight multi-tenant buildings – 2424 Blue Smoke, 2400 Ludelle 100-300 and Blue Smoke Buildings A-F. With each building comprising approximately 30k sf, the Blue Smoke Portfolio is well-suited to accommodate a wide range of industrial uses, from light distribution and storage to manufacturing.

Situated within the East Fort Worth submarket, the Blue Smoke Portfolio is surrounded by a diverse tenant base of manufacturers and local retail/food distributors, including Bell Helicopter, McLane Food Service, Allied Electronics and ATCO Rubber Products. The portfolio offers unparalleled connectivity to a robust and growing workforce via Hwy 287, I-30 and I-35, as well as proximity to the DFW International Airport.

Newmark Vice Chairmen Dustin Volz and Stephen Bailey, Senior Managing Director Dom Espinosa, Managing Director Zach Riebe and Associates Taylor Hare and Chloie Mercer represented the seller, PHP Capital, in the sale.

“In a capital markets environment where shallow-bay portfolio transactions are very competitive, the Blue Smoke Portfolio emerged as a distinctive avenue for investors to significantly expand their footprint through a single transaction,” said Bailey.

According to Newmark Research, demand within the Dallas-Fort Worth industrial market remains positive as the market realized 6.6 msf of positive absorption in the third quarter of 2023, bringing year-to-date totals to 25.1 msf. The construction pipeline recorded the third consecutive double-digit delivery quarter at 16.3 msf, with another 50.8 msf under construction. This surge in new deliveries is anticipated to outpace demand in the near term.





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