Infrastructure-focused investment firm Stonepeak announced it has acquired two logistics properties in Fort Worth, Texas totaling 748,000 square feet of space.
The acquired sites are located in the Alliance submarket of Fort Worth and sit in close proximity to a nearby cargo airport, two Class I railroads and a BNSF Railway (NYSE: BRK.B) intermodal terminal.
The New York-based private equity firm highlighted anticipated growth in the Dallas-Fort Worth area, noting that its population of more than 8 million is projected to grow at a rate three times the national average through 2030.
“We are excited to add these assets to our growing portfolio and to expand our footprint in DFW,” said Phill Solomond, Stonepeak’s head of real estate, in a news release. “We believe that high-quality real estate adjacent to transport infrastructure will continue to outperform given its mission-critical role in local and national supply chains.”
Stonepeak has acquired 7.7 million square feet of logistics space since April 2024, including notable additions in major freight corridors like Dallas, Houston and Chicago. The firm’s latest acquisitions follow a flurry of activity from 3PLs in the warehouse leasing market.
The logistics industry has replaced retailers and e-commerce companies as the most active buyer group of industrial space, according to recent industry research reports. Further, 3PLs were occupiers of more 1-million-square-foot-plus properties than any other industrial vertical during the first half of this year.
Stonepeak touts $76 billion in assets under management. In April, it closed on a $3.1 billion acquisition of Air Transport Services Group. A week later, it acquired energy transportation provider Dupre Logistics and its fleet of over 700 trucks.
Eastdil Secured served as financial adviser to Stonepeak on the Fort Worth property acquisitions.
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