FORT WORTH & FRISCO, Texas–(BUSINESS WIRE)–The Corinth Land Co./Prattco Creekway Industrial partnership purchased a Class A Industrial building in the heart of the Frisco Sports Complex. The state-of-the-art 50,000 SF facility is home to the popular Frisco Flyers, a nationally ranked volleyball organization. Built in 2018, the building is located at 6300 Flyers Way and sits on 5 acres.
Adding three acquisitions in the well-known Fort Worth IH-20 West Business Park, Corinth Land and PCI’s latest acquisitions include 6595 Corporation Parkway, occupied by Lesiker Construction; 6597 Corporation Parkway, occupied by Cheer Connection of Texas, and 6576 Corporation Parkway, occupied by Summit Casing.
This is the ninth partnership acquisition of industrial space for Corinth Land and PCI in North Texas . The purchase price for the recent property acquisitions was not disclosed.
“We continue to be bullish in investing in Class A Industrial space in Texas and the Southwest,” said Corinth Land Founder and President Paun Peters. “We believe in the long-term value of these acquisitions and have a plan of continued growth for our asset portfolio.”
The investment duo sold a significant amount of their joint real estate portfolio last year which included a mix of multi-tenant and single-tenant buildings in some of DFW’s most coveted infill industrial submarkets that included Arlington, Brookhollow, Great Southwest, NE Dallas/Garland and Southwest Tarrant County.
“Our partnership over the years has been very strategic and selective with acquisitions during the construction/creation of our industrial portfolio throughout the Southwest,” said Lance Bozman, PCI managing partner. “These recent income producing deals add tremendous value to our base of holdings, and we expect them to perform well in this current environment.”
Founded by Peters in 2006, Corinth Land Co.’s initial focus was providing oil and gas surface sites and easements in the Barnett Shale. Peters sold the company’s holdings in 2016 and is now focused on the acquisition, development and operation of commercial and residential real estate assets in strategic locations throughout the DFW area, Texas and North America.
PCI Managing Partner Lance Bozman was formerly a managing director of a $1 Billion AIG/Lincoln portfolio that comprised 4 million SF of industrial and commercial investments. PCI Managing Partner Chad Lunsford spent 20 years at GE Capital Real Estate with $4B in acquisitions serving in various management and leadership positions. PCI Managing Partner Blake Bozman was formerly an operating partner with Drive Financial before selling the company in an almost $1 Billion transaction to Spain’s Santander Consumer Finance. He currently sits on the board of Veritex Bank.
For more information, visit Corinth Land Co. or Prattco Creekway | Commercial Real Estate Dallas Tx.