Jupiter Business Park is in one of the nation’s fastest-growing markets
JLL announced today that it has closed the sale of and arranged acquisition financing for Jupiter Business Park, a five-building light industrial park totaling 141,200 square feet in the suburban Dallas community of Plano, Texas.
JLL marketed the property on behalf of the seller, Berkeley Partners. MoxieBridge purchased the asset. Additionally, working on behalf of the new owner, JLL placed the five-year, fixed-rate acquisition loan with Grant Street Funding.
Jupiter Business Park is 88% leased and is situated on 8.13 acres at 1111 Jupiter within the high-performing Plano Industrial submarket. It is adjacent to both SH-161 (President George Bush Turnpike) and US-75, which provides direct access to Downtown Dallas, Dallas Love Field and Dallas/Fort Worth International Airport in addition to a population of more than 277,000 within a five-mile radius. Jupiter Business Park is in the heart of Plano, an affluent northern Dallas suburb, within Collin County, one of the nation’s fastest-growing counties.
The JLL Capital Markets Investment Advisory team representing the seller was led by Director Stephen Bailey.
The JLL Capital Markets Debt Placement team representing the new owner included Managing Director Campbell Roche, Managing Director Steve Heldenfels and Associate Jarrod McCabe.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
Deal secured by Holliday Fenoglio Fowler LP prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
About Berkeley Partners
Berkeley Partners and its affiliated entities comprise a fully integrated principal investment firm focused exclusively on multi-tenant light industrial real estate. Since 2005, Berkeley Partners’ affiliates have sponsored a series of investment vehicles dedicated to the light industrial sector. With its national footprint, the company is one of the premier institutional industrial operators and fund managers. To learn more, visit berkeleypartners.com.
About MoxieBridge
Based in Dallas, Texas, MoxieBridge is a private real estate firm that pursues investments in the office, industrial and residential sectors across the U.S. The firm’s deep expertise and network of partners help to propel projects and generate superior results. A mix of co-investment partnerships and direct investments offers its investors a diverse range of opportunities. Visit moxiebridge.com for more information.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
