Panattoni Development Co. Inc. sold the 1.6-million-square-foot Midpoint Logistics Center in Lancaster to what the Dallas Business Journal reports is a likely affiliate of Sterling Investors LP. Dallas Central Appraisal District values the two sites at a combined $104.9 million.
Panattoni completed the two-building complex off North Dallas Avenue, south of I-20, in 2023. Global logistics company DSV Solutions leases all of one building and appliance manufacturer Electrolux Consumer Products Inc. leases the other. Panattoni Development purchased the 250 acres for Midpoint Logistics Center in 2015 with partner MetLife.
Not too far from Midpoint, Atlanta-based MDH Partners bought Commerce 20, a roughly 1.1-million-square-foot industrial property in southern Dallas, toward the end of 2024.
JLL’s Trent Agnew, Tom Weber, Parker McCormack, Pauli Kerr, Matthew Barge and Brennan Fewin worked on behalf of the seller.
