Dallas (PRWEB) March 02, 2015
Amstar announced today the execution of a ten-year lease with MI Windows and Doors at DFW North Distribution Center in Flower Mound, Texas. DFW North Distribution Center is a 401,600 square foot Class A bulk warehouse facility featuring a cross-docking configuration, 32-foot clear height, and ample trailer parking. Amstar, with development partner Huntington Industrial Partners, broke ground on the property on a speculative basis in April 2014, and will complete construction during 1Q-2015. The property, located off of Lakeside Parkway in the North Airport submarket, is less than five miles from DFW International Airport. MI Windows and Doors, one of the nation’s largest suppliers of vinyl and aluminum windows and doors, will lease 100% of the building and will take occupancy immediately following completion. The facility will serve as the company’s Southwest headquarters and will house production lines, finished-goods distribution and related offices.
In addition to DFW North Distribution Center, Amstar and Huntington are currently developing Riverpark 1000, a 145,579 square foot light industrial building in the Great Southwest submarket. Both properties began as speculative developments and are now fully leased prior to completion.
“The leasing of DFW North Distribution Center to MI Windows and Doors prior to the building’s completion reinforces our conviction in the strength of the Dallas industrial market,” said Amstar Managing Director Tricia Noble.
“Huntington is excited about the opportunity to accommodate the growth of MI Windows and Doors with the lease of this property which exhibits state-of-the-art facilities in the North Airport submarket of Dallas,” said Steve Meyer of Huntington Industrial Partners.
Blake Kendrick of Stream Realty represented the tenant in the transaction and Cannon Green of Stream Realty represented the landlord.
Established in 1987 and headquartered in Denver, Colorado, Amstar is a real estate private equity company that acquires, develops and manages all major property types in the United States and in select international markets. In the United States, Amstar focuses on investing in high-quality and well-located office, multifamily, industrial, retail and hotel properties with value-add risk profiles through a rotational investment strategy; it targets underperforming property sectors early in their fundamental recoveries, stabilizes those properties through active asset management, and sells when there is an abundance of capital seeking to enter that sector. Currently, Amstar and its clients utilize perpetual separate account structures which grant the flexibility needed to optimize risk-adjusted returns through multiple market cycles. Amstar is a privately-owned company with over 80 professionals, and is based on a culture of trust, integrity, and respect. 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.