TTI, a global distributor of electronic components owned by Warren Buffett’s Berkshire Hathaway, has purchased 45.8 acres in the Mercantile Center Business Park in north Fort Worth where it plans a major expansion.
The land is at the northwest corner of Beach Street and Meacham Boulevard, across from the Dillard’s distribution center. It was sold to TTI by Mercantile Partners, developer of the business park. A sale price was not disclosed.
TTI would not say when construction on the facility would begin, or offer other details such as the size or what operations will be located there.
Spokeswoman Cathy Walensky said some consolidation of the company’s three north Fort Worth locations will take place there. TTI employs about 870 workers locally.
TTI has had a 190,000-square-foot connector warehouse at 2601 Sylvania Cross Dr. in Mercantile for about a decade, which it leases from Mercantile Partners. It also has a corporate office at 2441 Northeast Parkway and a business development and sales office at 5050 Mark IV Parkway.
Brian Randolph, president of Mercantile Partners, said Mercantile wanted to be a part of TTI’s expansion.
“TTI has had operations in the Mercantile Center for almost ten years,” he said. “They have been a fantastic company to work with and we are excited to know they will remain a part of Mercantile Center well into the future.”
“It is rare for Mercantile to sell land,” Randolph said. “We typically develop it ourselves and hold the improved properties as a long-term investment. TTI is the first exception to that strategy since Medtronic PS Medical acquired a project on a design-build basis in 1999.”
The 1,300-acre Mercantile Center is at the southeast corner of Interstate 35W and Loop 820 and consists of office buildings and warehouse/distribution centers totaling 5 million square feet. Mercantile is about 60 percent built out. About 70 companies are located within the business park, employing more than 10,000 workers.
Richard Minker with Case Commercial Real Estate and Tyler Trahant with the Trahant Co. represented TTI.
TTI, founded in 1971 by Paul Andrews, was acquired by Berkshire in 2006. It distributes electronics components to industrial and consumer electronics manufacturers worldwide. Along with its subsidiaries, Mouser Electronics and Sager Electronics, TTI employs more than 4,300 employees and is represented in more than 100 locations throughout North America, Europe and Asia.
Sandra Baker, 817-390-7727