PHP Capital Partners, a real estate investment firm based in Fort Worth, has expanded its presence near Dallas Fort Worth International Airport with the acquisition of Gateway Business Center. The property consists of four buildings totaling 115,000 square feet of industrial and office flex space. Panther FW Investments, also based in Fort Worth, partnered with PHP on the purchase. Financial terms were not disclosed.
Gateway Business Center is located at 6005 Commerce Drive, 6015 Commerce Drive, 6000 Campus Circle Drive, and 6012 Campus Circle Drive. The complex was built in 1981 and is adjacent to Gateway South, another property PHP acquired earlier this year. Gateway South includes two buildings with a combined total of 80,000 square feet at 2900 Gateway Drive.
Since launching in 2021, PHP has focused on acquiring properties valued between $3 million and $30 million across major Texas markets such as Dallas-Fort Worth, San Antonio, El Paso, Houston, and Austin. In addition to its recent purchases near DFW Airport, PHP also acquired a 30,000-square-foot industrial facility in San Antonio and Marine Creek Business Park—a 50,000-square-foot site at 3521 NW Loop 820 in Northwest Fort Worth—bringing its total acquisitions this year to four.
Dallas-Fort Worth’s industrial sector remains robust despite an uptick in vacancy rates during the third quarter. According to CBRE’s latest report (https://www.cbre.com/), the region marked its sixtieth consecutive quarter of positive net absorption for industrial space. Although only a small percentage of newly completed spaces were pre-leased—less than three percent—this led to a rise in the vacancy rate by twenty basis points to nine percent for the quarter. However, CBRE noted that increased pre-leasing activity should drive vacancy rates lower moving forward.
Manufacturing accounted for much of the leasing demand over the past quarter. Submarkets such as South Dallas and Northwest Fort Worth continue to see high demand for industrial space; AllianceTexas—a major mixed-use development by Hillwood—anchors activity in Northwest Fort Worth.
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