The Corinth Land Co./Prattco Creekway Industrial (PCI) partnership has been busy making property acquisitions in North Texas, showing that they are bullish on Texas and the Southwest, the partnership said in a statement.
The company bought a Class A industrial building in the heart of the Frisco Sports Complex at 6300 Flyers Way. The state-of-the-art 50,000-square-foot facility sits on five acres of land and is home to the popular Frisco Flyers, a nationally-ranked volleyball organization.
Corinth Land also added three acquisitions in the well-known Fort Worth IH-20 West Business Park. The 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, the company said.
The purchase price for the recent acquisitions was not released. Corinth Land said this is the ninth partnership acquisition of industrial space for the company in North Texas.
Plans for the continued growth of its asset portfolio
“We continue to be bullish in investing in Class A Industrial space in Texas and the Southwest,” said Paun Peters, founder and president of Fort Worth-based Corinth Land. “We believe in the long-term value of these acquisitions and have a plan of continued growth for our asset portfolio.”
The investor duo sold a significant amount of their joint real estate portfolio last year, which included a mix of multitenant 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,” Lance Bozman, managing partner of Dallas-based PCL, said in a statement. “These recent income-producing deals add tremendous value to our base of holdings, and we expect them to perform well in this current environment.”
Corinth Land Co. was founded by Peters in 2006 and its 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, Texas, and North America.
Bozman formerly was a managing director of a $1 billion AIG/Lincoln portfolio that comprised 4 million square feet of industrial and commercial investments.
PCI Managing Partner Chad Lunsford spent 20 years at GE Capital Real Estate with $4 billion 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.
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