Behringer has acquired Addison II, a light industrial building in Addison, Texas, from an affiliate of Allen-based Pillar Commercial, expanding the Dallas-based family office’s light industrial footprint in the Dallas-Fort Worth market.
Located at 4550 Excel Parkway, the 182,154-square-foot property includes ground-floor industrial and flex space with a mezzanine level. Built in 1996, Addison II has historically drawn a range of tenants due to its layout and infill location within the DFW metro, according to the companies.
The building is 89% leased to four tenants, with occupants spanning multiple specialized uses, including aviation innovation and aeronautical rocket technology. Pillar Commercial, led by President Dillon Buhrkuhl, is marketing two northwest-corner vacancies totaling 16,947 square feet and 2,600 square feet, with plans to refresh the spaces for prospective tenants.
Behringer said the deal aligns with its strategy of sourcing institutional-quality industrial assets in competitive submarkets. Founded in 1989, Behringer focuses on private commercial real estate investment and management, primarily in Texas, and says it has raised more than $6 billion in investor capital and acquired $11 billion in assets across 10 countries.
KEY QUOTE:
“Addison II is an excellent addition to our portfolio and aligns with our light industrial strategy. This acquisition reflects our ability to source institutional quality industrial assets in competitive submarkets and to identify assets uniquely positioned to deliver for our investors.”
Michael D. Cohen, CEO and President, Behringer
