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Blackstone sells Wilmer, Texas, distribution center

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Blackstone sells Wilmer, Texas, distribution center

Private equity giant The Blackstone Group Inc. sold a Whirlpool Corp. distribution center in Wilmer, Texas, to LBA Logistics, the Dallas Business Journal reported, citing an LBA representative.

The deal value was not disclosed, but the property was last valued at $45.4 million by the Dallas Central Appraisal District, the publication added.

Blackstone inherited the roughly 1 million-square-foot property at 500 S. Millers Ferry Road, following its takeover of Gramercy Property Trust in 2018, according to the report.