North Fort Worth business park goes to Hawaiian investor

A Hawaiian investor that has already made several property plays in North Texas has snapped up a business park north of Fort Worth.

Honolulu-based James Campbell Co has purchased the two building Speedway Logistics Crossing, an 800,000-square-foot industrial complex located next to the Texas Motor Speedway in Denton County.

The new industrial park was developed by Indianapolis-based

Scannell Properties and was sold in a deal negotiated by commercial property firm JLL.

Wabtec Corp., which bought GE’s transportation division last year, recently leased more than 262,000 square feet of warehouse space in the project.

The business park is more than 80% leased to Wabtec and AmerCare Royal.

JLL’s Dustin Volz, John Huguenard, Stephen Bailey, and Dom Espinosa marketed the buildings.

“Speedway Logistics Crossing is our sixth development in the Dallas-Fort Worth area, totaling in excess of 3 million square feet of industrial and office space,” Kris Arviso, managing director, Scannell Properties, said in a statement. “It’s an attractive region for warehouse and light industrial business, and we’re excited to continue building on the momentum we’ve created with our Speedway project.”

Buyer James Campbell Co. traces its start back to the 1800s. Irish-born James Campbell migrated to Hawaii in 1850, built multiple businesses and became one of the islands’ largest property owners.

The investment company that bears Campbell’s name is owned by his descendants and now owns real estate valued at more than $3 billion in 13 states.

Campbell Co. a year ago bought the Brookfield Executive Distribution Center industrial property on 5220 South Westmoreland Road in Dallas.

Also in 2019, Campbell Co. bought the Platinum Park office building in Plano’s Legacy business park.

The Speedway Logistics Crossing purchase is just the latest in a string of big industrial building purchases by investors in North Texas.

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