New Soup Shipping Hub in North Fort Worth Sells to California Buyer

A California investor has purchased a large distribution building development in North Fort Worth.Transpacific Development Co. has bought the 713,000-square-foot warehouse under construction on Cantrell Sansom Road near Interstate 35W.The building is set to open in August, and is 80 percent leased to Campbell Soup Supply Co.The industrial project is being developed by DHL Real Estate Solutions, a unit of the international shipping and logistics firm. Terms of the purchase by Transpacific were not disclosed.The acquisition is Transpacific's second recent purchase in North Fort Worth."Last year we acquired the adjacent 1,440,000 square foot building at 5600 Mark IV Parkway from DHL, so we now have more than 2,100,000 square feet of brand new, state-of-the-art distribution product at the northwest corner of I-35W and 820," Transpacific president Thomas Irish said in a statement.DHL occupies the adjacent building, which Transpacific bought.Nathan Lawrence, Ryan Keiser, Seth Kelly, Jon Sarkisian and Bill Wolf of CBRE negotiated the Campbell Soup lease with Dave Anderson, Nathan Lawrence and Krista Raymond of CBRE.Transpacific is based in Torrance, Calif. and has been in business for 63 years. The company owns about 5 million square feet of property in four states.  Continue reading...