Dallas real estate fund buys Firewheel Commerce Center in Garland

Candace Carlisle I Dallas Business Journal I 12/3/2014


Dallas-based real estate fund Atlas CP has bought the Firewheel Commerce Center, a distribution park in Garland that sits next to the headquarters of its largest tenant, Atlas Copco Drilling.Terms of the real estate deal were undisclosed.


The 100-percent leased, Class A industrial park at 2350 Crist Road in Garland has been owned by Dalfen America Corp. since 2010, when the Canada-based company bought the foreclosed property though its opportunistic fund.


At that time the newly finished property was only 15 percent occupied. The two-building distribution center was built in 2008 and totals 202,000 square feet of space.


The sale of Firewheel Commerce Center exemplifies the successful execution of Dalfen America’s strategy to acquire properties with solvable problems in the United States, said Sean Dalfen, the managing principal and chief investment officer of the firm.


CBRE’s Jack Fracker, Josh McArtor, Jonathan Bryan and Heather McClain represented Dalfen America in the deal.