Champion Realty Advisors, in a joint venture with Timber Hill Group, has acquired a 10-acre vacant land parcel at the northwest corner of Interstate 820 and Main Street in the City of Ft. Worth. The site is zoned “Heavy Industrial” which allows for a wide assortment of transportation and outdoor storage uses. Cary Goldman, CEO of Timber Hill stated “Timber Hill and Champion identified a significant unmet need for highly secure truck and trailer parking in North Ft. Worth. Our property is designed to meet trucking company’s needs for 24-hour access, security for their employees and equipment, all at a prime north Ft. Worth location.”
Champion Realty Advisors, a Chicago-based commercial real estate firm, refocused its strategy to focus on transportation- and outdoor storage-related acquisitions. “We are capitalizing on [our] solid reputation in the industrial real estate community, rather than creating a new entity to grow and diversify the transportation and outdoor storage assets we already own,” said J.D. Salazar, CEO.
The company, which represents family offices and high-net-worth individuals, made the shift due to high prices for vacant land in many of its core markets. The decision to create new yards for parking trucks, trailers, containers and chassis fit in with Champion’s existing focus on the industrial sector. “This is an asset class we have a deep knowledge of. It’s industrial real estate that is still primarily owned by entrepreneurs, so we don’t face institutional competition for acquisitions,” Salazar said.
New Venture Seeks Investment Opportunities in Transportation and Outdoor Storage Properties on Behalf of Family Offices and HNWIs