Newmark Completes Sale of Fully Occupied, Newly Built Industrial Asset in Haltom City, Texas

January 3, 2024 3:00 PM

Newmark announces the firm has arranged the sale of Northmark Commerce Center, a new 234,475-square-foot industrial property in Haltom City, Texas. The property is 100% leased to leading logistics and transportation company Ryder System, Inc.

Newmark President, Global Head of Industrial & Logistics Capital Markets Jack Fraker, Vice Chairmen Dustin Volz and Stephen Bailey, Senior Managing Director Dom Espinosa, Managing Director Zach Riebe and Associates Taylor Hare and Chloie Mercer represented the sellers, Creation Equity and a real estate fund advised by Crow Holdings Capital in the sale to an institutional buyer.

Delivered in 2023, Northmark Commerce Center exhibits Class A+ construction and specifications, including 32’ clearance height, single and multi-tenant functionality, cross dock configuration, 56 dock doors, 132 car parks and 19 off-dock trailer stalls. The property also features a secured drop lot with 104 additional trailer stalls, as well as ESFR fire protection.

“With its prime last-mile location in the coveted North Fort Worth industrial submarket, best-in-class building design and investment grade tenant, Northmark presented an exceptional investment opportunity,” said Volz. “The significant institutional ownership and top-tier tenancy of surrounding assets further underscore the property’s appeal.”

Located at 3951 Old Denton Road, Northmark Commerce Center is strategically positioned in the North Fort Worth industrial submarket with premier access to I-35W and I-820. The asset is surrounded by the industry’s top logistics tenants, a skilled labor base, esteemed institutional landlords and robust transportation infrastructure. Furthermore, the property benefits from its proximity to AllianceTexas, a 27,000-acre, master-planned industrial, mixed-use and residential development that is driving substantial economic growth in North Texas.

About Creation Equity
Creation is a rapidly growing, versatile firm involved in real estate development, hospitality brand inception and alternative investments. Founded by David Sellers and Bob Agahi, the company has a current pipeline of over $4.4 billion of ground-up developments across six states. Operating at the industry’s highest standards, Creation is experienced in every facet of the development process with all services expertly handled in-house including purchase, entitlement, design, construction and sale. Creation Ventures, the firm’s alternative investment platform, has co-founded four companies since 2015 and participated in the funding of more than 90 burgeoning technology startups across the country. With dual headquarters in Phoenix and Dallas, Creation will open a third office in New York City later this year. For two consecutive years, the firm has landed on Inc. Magazine’s Inc. 5000 list, making it one of the fastest-growing companies in America. For more, visit CreationEquity.com.

About Crow Holdings Capital
Crow Holdings Capital (CHC) is a real estate investment management company specializing in multifamily, industrial, and specialty property types delivered through strategies that span the risk-return spectrum. For 25 years, CHC has sought out a diversified portfolio in partnership with leading global investors and generating attractive returns across market cycles. Led by a highly experienced leadership team, CHC manages $16 billion in real estate assets and is a subsidiary of Crow Holdings, a privately owned real estate investment and development firm with 75 years of history, $30 billion of assets under management, and an established platform with a vision for continued success. The firm’s ongoing legacy is rooted in its founding principles: partnership, collaboration, and alignment of interests. For more information, please visit www.crowholdings.com.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of September 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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