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A fund sponsored by CBRE Investment Management has acquired the first phase of McKinney National Business Park, a three-building, 481,000-square-foot group of Class A logistics properties in metro Dallas–Fort Worth.

The seller was the project’s developer, Transwestern Development Co., and the buyer was the CBRE Strategic Partners U.S. Value 9 fund. Newmark facilitated the transaction.

The three buildings were fully leased to five tenants at the time of sale, the roster being focused on local fulfillment distribution. The facilities feature 125 dock-high doors, ESFR sprinklers and LED lighting.