Fort Worth, TX (PRWEB) September 22, 2014
Amstar is pleased to announce the execution of a twelve year lease with Fruit of the Earth at Riverpark 1000, a 145,579 square foot Class A light industrial facility in the Great Southwest submarket of Dallas-Fort Worth. Amstar and development partners Huntington Industrial Partners and Seefried Industrial Properties broke ground on the property on a speculative basis in June. The property, located off of West Trinity Boulevard, is less than seven miles from DFW International Airport. Fruit of the Earth will lease 100% of the building and will take occupancy immediately following completion in 2Q-2015.
Founded in 1980 and headquartered in Fort Worth, Fruit of the Earth is a leading manufacturer of aloe-vera based, nature-inspired skin, sun and health care products. The facility will house additional production lines, finished-goods distribution and related offices. Seefried completed a separate 277,000 square foot build-to-suit in late 2013 for Fruit of the Earth which was also along Trinity Boulevard.
“The leasing of Riverpark 1000 to Fruit of the Earth early in the construction process is a testament to the vitality of the Dallas-Fort Worth industrial market. Amstar is excited about Fruit of the Earth’s expansion in the Great Southwest area and its long term commitment to the property,” said Amstar Senior Vice President Tricia Noble.
Amstar and Huntington are currently under construction on an additional 400,000 square feet in the North Airport submarket of Dallas and will commence construction in 4Q-2014 on 350,000 square feet, also in the North Airport submarket of Dallas. The properties are being built on a speculative basis.
Tom Walrich and Reed Parker of Lee & Associates represented the tenant in the transaction. Kacy Jones and Steve Koldyke of CBRE represented the landlord.
Established in 1987 and headquartered in Denver, Colorado, Amstar is a real estate investment manager that acquires, develops and manages office, multifamily, retail, hotel and industrial properties in the U.S. and select international markets. Originally formed to invest and manage the real estate allocation of a large family office client, Amstar began expanding its capital strategy nearly a decade ago and has grown to more than $2.6 billion in assets under management (as of June 30, 2014). Amstar’s clients originate from across the globe and include U.S. and European institutions, insurance companies, private banks, funds of funds, and family offices. For more information, visit http://www.amstar.com.
About Huntington Industrial Partners
Huntington Industrial Partners is an industrial real estate operating company with a strategic focus on acquiring and developing infill industrial properties in select U.S. markets. Huntington has offices in Atlanta, Dallas, Denver, Florida and Southern California that are staffed by local teams with extensive industrial experience, local market knowledge and established networks of market contacts.
About Seefried Industrial Partners
Headquartered in Atlanta, Georgia, Seefried Industrial Properties was started in 1984 and specializes in the development, leasing and management of industrial real estate. Since inception, Seefried has developed more than 50M SF of speculative and build-to-suit distribution facilities across the U.S. and has offices in Atlanta, Dallas, Chicago and Phoenix. Jonathan Stites and Doug Otte lead the Texas regional office in Dallas.