May 20, 2008

Railway Company Retains Right to Purchase Additional 164 Acres

By Stephen Basham

BNSF Railway Company has purchased 198 acres of land in the Dallas Logistics Hub.

The Allen Group, a San Diego-based developer, sold the property. As part of the transaction, the parties entered into an option agreement giving BNSF purchasing rights to an additional 164 acres. The subject property straddles the line between the cities of Lancaster and Dallas, and features over 9,000 feet of rail frontage. The price and terms of the sale were not disclosed. BNSF has not yet revealed the intended use of the land.

Dallas Logistics Hub is a 6,000-acre master-planned logistics park adjacent to four major highways, dual rail lines, intermodal facilities and a future air-cargo terminal.

Please refer to CoStar COMPS ID # 1528453 for more information on this sale.