An enormous new distribution constructing in southern Dallas is the most recent North Texas warehouse property to be bought.
The 1.1 million-square-foot DalParc Logistics Middle is on Phone Highway south of Interstate 20. The brand new industrial property was developed by VanTrust Actual Property.
Utah-based Property Reserve Inc. purchased the massive constructing at an undisclosed worth. The brand new proprietor is an actual property funding and growth arm of the Church of Jesus Christ of Latter Day Saints.
Accomplished in 2021, the constructing is absolutely leased to Amazon.
“The superior performance of the ability coupled with a secure tenant and premium location in South Dallas location made this an extremely engaging alternative for buyers,” Jonathan Bryan, govt vp with CBRE Group, mentioned in an announcement. “D-FW stays a most popular vacation spot for industrial capital as demand and rental charges proceed to develop.”
CBRE’s Bryan, Randy Baird, Jonathan Bryan, Ryan Thornton and Eliz Bachhuber brokered the sale.
Property Reserve owns a number of different properties in North Texas, together with flats and places of work.
Property vendor VanTrust Actual Property is constructing a number of D-FW warehouse tasks together with workplace developments in Frisco.
Southern Dallas County is the fastest-growing warehouse and distribution market in North Texas with greater than 17 million sq. toes of building underway.