The Dallas/Fortworth market shows some measurable changes in the sale of industrial properties. In the month of July 2012, 38 industrial facilities were sold in the Dallas market. In the entire market 68 industrial facilities were sold.
The Dallas/Fortworth market shows some measurable changes in the sale of industrial properties. In the month of July 2012, 38 industrial facilities were sold in the Dallas market. In the entire market 68 industrial facilities were sold. Compared to July 2011, sales came down by 35.4% . The average rental rates also came down by 32.7 over the month for the entire market.
In the month of July 2012, GT Industrial Properties has purchased 1400 Westpark Way, a 103,000 square-foot warehouse facility located at 1400 Westpark Way in Euless, Tarrant County, from Camtech Precision Manufacturing. The 28-year-old facility is fully occupied. The industrial facility which is situated on 5.27 acres is located between West Euless Boulevard and Westpark Way. The facility has access to only to Westpark Way. The rent type is industrial gross. According to County Appraisal District the total assessed value of the facility was $2.6 million. Larry Denisoff and Jonathan Diamond of Weitzman Group represented the seller. The new owner has secured 70,000 square feet for lease for the back building of the facility, and the remaining 33,000 square feet front building is available for lease.
Another significant sale for the month is the sale of 2829 Sea Harbor Road. Fainbarg V LP, an entity of S & A Properties has purchased 2829 Sea Harbor Rd, a 17,000 square-foot warehouse facility located at 2829 Sea Harbor Road in Dallas, Dallas County, from CH Realty V Lonestar LP, an entity of Crow Holdings. The 36-year-old facility was fully occupied at the time of sale. The industrial property is situated on 9.05 acres and is located at the North of River Wharf Drive and on side of Sea Harbor Road and South of Singleton Road. The 36-year-old facility is fully occupied at the time of sale. The industrial facility has access to only Sea Harbor Road. Sam Hanna from the San Diego office of Marcus & Millichap represented the buyer, while Scott Ryan from the Austin office and Geoffrey Ficke from the Dallas office represented the seller. USA Pallet & Logistics Service Center recently signed a 10-year lease at the facility.
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