JLL Capital Markets closes the sale of five industrial buildings totaling 689,497 square feet in East Dallas, TX

 

Pauli Kerr

 

DALLAS, TX – JLL Capital Markets has closed the sale of a five-property Class B shallow bay portfolio totaling 689,497 square feet in East Dallas, Texas.

 

Stephen Bailey

JLL represented the seller, CanTex Capital, in the sale. The price was not disclosed.

 

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Directors Stephen Bailey and Dustin Volz, Directors Dom Espinosa and Zach Riebe and Analyst Pauli Kerr.

“We are proud to have completed this sale and outperformed investment expectations for our partners," said Romit Cheema, CEO of CanTex Capital.

 

 "We look forward to continuing to aggressively acquire, redevelop and reposition industrial assets throughout the Dallas/Fort Worth market.”

Dustin Volz

The portfolio offers a mix of single- and multi-tenant warehouses ranging in suite sizes from 19,000 square feet to 184,000 square feet.

 

Currently, the portfolio is 100% occupied by six tenants across a wide range of industries, including ADCO Industries, Hill & Smith, Inc. and ProLift Rigging Company.

 

The buildings offer varying loading types, 18’-30’ clear heights, up to 34 dock-high doors and ample parking.

 

The properties are located at:

 

·       11221 Pagemill Road, Dallas

·       11333 Pagemill Road, Dallas

·       2917 Oakland St., Garland

·       1515 Big Town Blvd., Mesquite

·       3914-3920 U.S. Hwy 80, Mesquite

Dom Espinosa 

The properties are positioned on a total of 47.40 acres at infill locations with significant barriers to entry and immediate connectivity to Dallas-Fort Worth’s primary commercial and residential hubs, transportation arteries and major infrastructure.

 Additionally, shallow bay product consistently outperforms bulk industrial in the Dallas-Fort Worth metroplex, with average occupancy in the mid-to-high 90s and 6.4% average annual rent growth.

Zach Riebe 

 

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About CanTex Capital

 

CanTex Capital (CanTex) is a premier, Dallas-Fort Worth (DFW) based commercial real estate (CRE) investment firm specializing in the repositioning and redevelopment of infill industrial properties throughout Texas.

 

The team’s experience spans a wide range of geographical markets, asset classes, and market cycles, solidifying CanTex’s presence in the DFW CRE markets and ensuring its growth.

 

Romit Cheema

Since its inception in 2018, CanTex has acquired over 6 million square feet of shallow bay industrial product.

 

 

 Contact:

 

 Cierra Lacasse

 JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email: Cierra.Lacasse@jll.com