McCormack Commercial has secured a $20.5 million refinancing loan for a Class A, 334,750-square-foot building in Fort Worth, Texas, Tarrant County records show. The facility is part of the 1.3 million-square-foot Meacham Commerce Center industrial park.
JLL Capital Markets worked on behalf of the borrower to secure the loan, which was provided by Protective Life Insurance Co.
The facility previously landed an $18.2 million construction loan, originated by Zions Bank, in 2021, CommercialEdge data shows. Designed by Powers Brown Architects, the fully leased building came online in 2022. The facility sits on 19.4 acres and features 36-foot clear heights, 60-foot staging bays, 70 dock-high doors, cross-dock capabilities, four drive-in ramps and ESFR sprinklers, also offering 240 parking spaces.
Expanding the DFW industrial footprint
Meacham Commerce Center is set to deliver three additional buildings which will add 977,161 square feet to the industrial park and will offer space for tenants ranging from 20,000 to 600,000 square feet. As of April, Dallas-Fort Worth had 56.4 million square feet under construction and deliveries clocked in at 17.6 million square feet in the first four months of 2023, a CommercialEdge report shows.
Located at 4501 N Freeway, in a Foreign Trade Zone, the property is 6 miles from Fort Worth and has access to interstates 35W and 820. Dallas-Fort Worth International Airport is 20 miles away. Neighboring companies include Amazon, FedEx, DHL/Campbell Soup Supply Co. and S&S Activewear, among others.
The JLL team included Senior Managing Director Colby Mueck, Analyst John Beeler and Debt and Equity Analyst John David Johnson. Managing Principal Matt Carthey and Vice President George Jennings at Holt Lunsford will handle leasing.