Monday, November 24, 2014

Real estate investors buy former truck assembly plant in Garland


(NBC5)
Navistar closed its Garland plant last year.
A shuttered truck assembly plant in Garland has sold to a real estate investment company that plans to repurpose the property.
Navistar International Corp. last year closed its warehouse and manufacturing facility on 50 acres at 4030 Forest Lane.
The closing of the assembly plant put 900 people out of work.
Commercial real estate firm JLL has been marketing the 681,354-square-foot complex for sale.
JLL said Tuesday that Doillar-Flowers Realty Partners bought the industrial complex and plans to market the property for other uses.
“The D-FW industrial market continues to see a strong level of healthy demand, which is why our team opted to demise the property and create a new multitenant option at a prime in-fill location,” Dollar-Flowers partner Pete Flowers said in a statement.
JLL’s Terry Darrow, Daniel McGillicuddy and Larry McCorkle brokered the sale. Terms of the transaction were not reported.
Navistar since 1997 had produced commercial trucks and buses at the Garland plant.