Business Wire
Fort Worth-based Corinth Land Co. recently acquired the Bank Street Business Park in Southlake, according to a press release.
The six-tenant business park includes 7,200 square feet and is 100% occupied. The site is located at 351 Bank Street.
The purchase was financed by Pinnacle Bank of Fort Worth with equity provided by Corinth Land Co., according to the press release.
“While we have significant investments throughout North Texas, this is our first in the Southlake market which historically nets high rents,” said Corinth Land Co. President Paun Peters. “The Southlake submarket continues to be strong and is well positioned for future growth and opportunity.”
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.
“We have had our investment radar on the Southlake industrial flex market for quite some time,” said Danny Peters, Corinth Land Co.’s broker of record. “As Corinth’s history shows, we are bullish on the North Texas industrial market and anticipate that to be the case for the foreseeable future.”
