December 4, 2019 – JLL announced today that it has closed the sale of and arranged acquisition financing for Jupiter Business Park, a five-building light industrial park totaling 141,200 square feet in the suburban Dallas community of Plano, Texas.
JLL marketed the property on behalf of the seller, Berkeley Partners. MoxieBridge purchased the asset. Additionally, working on behalf of the new owner, JLL placed the five-year, fixed-rate acquisition loan with Grant Street Funding.
Jupiter Business Park is 88% leased and is situated on 8.13 acres at 1111 Jupiter within the high-performing Plano Industrial submarket. It is adjacent to both SH-161 (President George Bush Turnpike) and US-75, which provides direct access to Downtown Dallas, Dallas Love Field and Dallas/Fort Worth International Airport in addition to a population of more than 277,000 within a five-mile radius. Jupiter Business Park is in the heart of Plano, an affluent northern Dallas suburb, within Collin County, one of the nation’s fastest-growing counties.
The JLL Capital Markets Investment Advisory team representing the seller was led by Director Stephen Bailey.
The JLL Capital Markets Debt Placement team representing the new owner included Managing Director Campbell Roche, Managing Director Steve Heldenfels and Associate Jarrod McCabe.