Harbor Capital Expands Operations with Major Denton Acquisition
Harbor Capital's Landmark Acquisition in the DFW Area
Harbor Capital has made headlines with an impressive acquisition in the Dallas-Fort Worth market. This significant move features the fully leased Corbin Industrial Park, encompassing 20 buildings and spreading over 606,911 square feet across a sprawling 45 acres. With this acquisition, Harbor Capital is strategically positioning itself in one of Texas's largest industrial sectors.
Strategic Importance
This milestone acquisition represents a pivotal advancement in Harbor Capital's Texas industrial strategy, focusing on maximizing returns through strategic property investments. The Corbin Industrial Park, constructed in phases from 2005 to 2014, offers modern amenities including spacious buildings with heights reaching up to 24 feet and ample parking, catering to various industrial needs.
Market Presence Expansion
With this purchase, Harbor Capital now holds 15% of the sub-75,000-square-foot industrial market in Denton. This showcases the firm’s commitment to developing a robust presence in the Dallas-Fort Worth area, which is known for its concentration of skilled workforce and proximity to major distribution routes.
Future Investment Plans
The investment strategy for the Corbin Industrial Park revolves around both the sales of leased properties and the management of vacant spaces, anticipated to span a 5 to 8-year plan. The firm’s focus remains on acquiring value-added, profitable commercial real estate within Texas's industrial sector.
Collaborative Efforts
Harbor Capital has engaged with several firms such as Nineteen Blocks for equity placement and Newmark Capital Markets for debt sourcing. The collaboration extends to Argentic Investment Management, which is providing the financial backing for this transaction. Such partnerships reflect Harbor Capital's strategic approach to synergizing expertise in real estate investments.
Access to Key Markets
Strategically located, the Corbin Industrial Park offers exceptional access to a range of industrial markets and is surrounded by top manufacturers and distribution centers. This ideal positioning not only bolsters Harbor Capital’s asset portfolio but also enhances its operational efficiencies within the rapidly growing industrial sector.
About Harbor Capital
Headquartered in Austin, Harbor Capital is renowned as a private equity firm specializing in industrial real estate. With more than $250 million in assets under management (AUM), the firm is dedicated to securing high-quality industrial assets that pave the way for sustained profitability.
Company Contacts
For any media inquiries, contact Morgan Allen from Harbor Capital at morgan@harborcap.com or (717) 209-0121. For leasing or purchase inquiries, reach out to Frazier Commercial Real Estate via dfrazier@fraziercommercial.com or (940) 566-0404.
Frequently Asked Questions
What is the significance of Harbor Capital's acquisition?
This acquisition is pivotal for Harbor Capital, marking its entry into the Dallas-Fort Worth market and enhancing its industrial portfolio.
What are the specifics of the Corbin Industrial Park?
Corbin Industrial Park consists of 20 buildings covering 606,911 square feet, strategically located to cater to various industrial needs.
How does this acquisition impact Harbor Capital's market position?
With this acquisition, Harbor Capital controls a significant portion of Denton’s sub-75,000-square-foot industrial market, reinforcing its competitive stance.
Who are Harbor Capital’s partners in this investment?
Harbor Capital collaborated with Nineteen Blocks, Newmark Capital Markets, and Argentic Investment Management among others for this acquisition.
What are Harbor Capital’s future plans for this property?
The firm plans to manage and sell leased and vacant properties over a 5 to 8-year period, focusing on profitable outcomes for investors.
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