A global property investor has snapped up a big shipping hub in North Fort Worth.

GLP Capital Partners bought the Speedway Distribution Center at 16101 Three Wide Drive near State Highway 114. The 730,000-square-foot industrial building is near the Texas Motor Speedway.

Built in 2014, the big distribution complex is occupied by a Sam’s Club shipping center.

The building was developed by Atlanta-based IDI Logistics.

New owner Singapore-based GLP Capital is one of the largest international investors in logistics real estate.

Founded in 2009, the global logistics real estate investor, developer and operator has more than $118 billion in assets in 17 countries.

GLP Capital Partners just raised more than $2 billion from investors to purchase industrial properties across the U.S.

The new logistics investment fund was reported to the largest such investment vehicle on record.

Dallas-Fort Worth is the country’s fastest-growing industrial market with more than 30 million square feet of warehouse space under constriction.

Source link