Big Wilmer shipping hub has new owner - The Dallas Morning News

One of the biggest industrial complexes in North Texas has quietly changed hands.

A unit of John Hancock Life Insurance Co. has acquired the 1.4-million-square-foot Procter & Gamble distribution center on Interstate 45.

Built in 2014, the hub is home to more than 500 workers for the consumer products firm.

It was developed in a partnership of Panattoni Development Co. and the California State Teachers Retirement System.

Jud Clements, Robby Rieke and Taylor Starnes of Cushman & Wakefield brokered the sale. Terms of the transaction were not disclosed.

The building is valued for taxes at more than $63 million.

The Procter & Gamble distribution center is across the street from appliance maker Whirlpool’s big Wilmer warehouse, which also just sold.

California buyer LBA Realty acquired the 1 million-square-foot Whirlpool property in December.

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Big Wilmer shipping hub has new owner - The Dallas Morning News
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