1.5-Million-Square-Foot Industrial Property Sold in Corsicana, Texas

Hackman Capital Partners, LLC and Calare Properties, Inc. announced today the recent sale of North Texas Industrial Center, a 1,453,615-square-foot industrial facility, to an affiliate of New York based Eliken Property Management. The property is located on Business Highway 45, roughly 60 miles southeast of the Dallas/Fort Worth Metroplex.

D. Conrad Madsen, Greg Nelson and Dean Woodward of Paladin Partners represented the seller in the transaction, while Holmes Davis of Binswanger represented the buyer.

Eliken Property Management is a private real estate firm focused on acquiring, developing and managing industrial properties throughout the United States. The company’s current portfolio consists of 10 properties with approximately 2.5 million rentable square feet.

North Texas Industrial Center was part of an approximately 11.38-million-square-foot industrial portfolio purchased in 2007 by a joint venture formed by Hackman Capital Partners, Calare Properties and KBS Real Estate Investment Trust. Two Texas properties still remain in the portfolio, while the majority of the properties are located in the Northeast.

One of the largest buildings in the southwest, North Texas Industrial Center offers a flexible floor plate, abundant loading and trailer storage, heavy 3-phase power and rail capability. The building is occupied by two tenants.

More About Hackman Capital Partners

Hackman Capital Partners is a privately-held, real-estate investment and operating company that focuses on the acquisition of industrial properties, including complete facilities with industrial equipment. Hackman Capital also targets infill flex buildings, which the company redevelops for creative-office and other commercial uses.

Founded in 1986, Hackman Capital has conducted more than $2 billion in real estate transactions across 41 states—having owned, through affiliated entities, over 400 buildings totaling 35-plus million square feet and 24,000 acres of developable land. Approximately 1.5 million square feet of that portfolio is currently located in Texas.

The company is based in Los Angeles, California with regional offices in Columbus, Ohio and Boston, Massachusetts. It currently employs 82 people and manages approximately 300 major tenant companies nationwide, including Home Depot, Staples, Coca Cola, Lowe’s, Sony and Lego.