A joint venture between Hopewell Development and MBK Industrial Properties has sold a 105,675-square-foot Class-A industrial facility at 7810 Jetstar Drive in the Tristar Business Park in Irving, Texas. The institutional-quality asset adds to the changing ownership profile within the business park, underscoring continued investor interest in modern industrial product in the greater Dallas area. Greg Cannon of Colliers represented the seller in the transaction, while Blue Ocean TX Industrial, LLC acquired the property with representation from Mark Miller of NAI.
The sale highlights ongoing demand for well-located, Class-A industrial space in Irving, where proximity to regional transportation networks continues to support logistics and distribution users. While financial details of the trade were not disclosed, the presence of dedicated buyer and seller representation from national brokerage platforms suggests an actively intermediated investment sales environment for industrial product in this submarket.
On the occupier advisory side, CBRE expanded its industrial leadership bench in North Texas. Ward Richmond has joined CBRE’s Dallas office as a Vice Chair with the firm’s Industrial & Logistics Occupier Leasing team. Bringing more than two decades of real estate experience, Richmond advises industrial occupiers on optimizing portfolios and supply chain operations across the United States, Canada and Mexico, reinforcing Dallas’s role as a strategic hub for North American logistics planning and execution.
In Central Texas, Cadence McShane Construction Company has completed Phase I of Kyle Technology Park for client TIG Real Estate Services, Inc. The first phase of the master-planned industrial project totals 75,000 square feet across three warehouse buildings, each spanning 25,000 square feet with 35-foot clear heights. The buildings are configured to accommodate multiple tenants and a mix of warehouse and flex industrial uses, reflecting ongoing diversification in small- and mid-bay product tailored to a range of operational requirements.
CBRE also advanced its office platform leadership with the appointment of Frank McCafferty as Office Occupier Leasing Leader for the U.S. and Canada, effective immediately. Based in Dallas, McCafferty will oversee the firm’s Office Occupier business across both countries, with a mandate to drive growth, enhance collaboration among brokers, and support clients as they refine workplace and portfolio strategies. He brings more than 25 years of commercial real estate experience, including tenant representation, corporate services, strategic consulting and development, signaling continued focus on advisory capabilities in a shifting office landscape.
