CIM Group Signs 184,723-Square-Foot Lease with HGR Industrial Surplus for Warehouse Facility at Junction 20/35 in Fort Worth
FORT WORTH, Texas--(BUSINESS WIRE)--Sep 27, 2021--
CIM Group announced today that HGR Industrial Surplus, an industry leader for buying and selling used surplus, has leased 184,723 square feet at Junction 20/35 in Fort Worth, Texas. The addition of HGR to the property brings the asset to 100% leased.
Located at 7550 Oak Grove Rd., Junction 20/35 is a 1,128,000-square-foot industrial facility that features 30- to 33-foot clear heights, car and trailer parking, and rail accessibility. It was built in 1989 and renovated in 2021.
“HGR is excited to expand into Fort Worth,” says Brian Krueger, SVP of Operations. “With the new warehouse, HGR will reduce transportation time and cost for southern customers and increase storage space for inventory.”
Junction 20/35 is situated at the nexus of Interstate 20 and Interstate 35, which provide access to other areas of Texas and the greater southern United States as well as to three airports: Dallas Fort Worth International Airport, Fort Worth Alliance Airport, and Dallas Love Field. Its location is also convenient to rail transportation and two major intermodal facilities, BNSF Intermodal Facility and Alliance Global Logistics Hub.
“Junction 20/35 is a large, well-designed facility located in one of the country’s leading industrial submarkets with an expanding neighborhood and a strong workforce, attributes that are in demand by businesses such as HGR,” said Shaul Kuba, Co-Founder and Principal, CIM Group.
CIM Group acquired Junction 20/35 in March 2020 as part of the company’s ongoing industrial property acquisition program that targets well-located assets in select markets that are logistics hubs, serving a variety of businesses that require efficient space and proximity to transportation networks.
For more than 25 years, CIM Group has applied its community-focused approach utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.
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CONTACT: Karen Diehl
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY
SOURCE: CIM Group
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PUB: 09/27/2021 11:13 AM/DISC: 09/27/2021 11:13 AM