With the all-cash deal done, On Time Express Inc. has started its move into 3409 High Prairie Rd. to supplement a leased site at 1840 W. Airfield Dr. at the Dallas/Fort Worth International Airport, Allen Gump, executive vice president of the industrial division with Colliers International Inc.'s Dallas office, tells GlobeSt.com. The closing price is off limits, but the off-market deal from the Alpharetta, GA-based UPS Freight Services Inc. turned over a deed with a $1.8-million assessment by Dallas County. The eight-year-old structure, labeled as surplus real estate, rolled into UPS' hands when it bought Herman Miles Air Freight Co.

Gump says On Time Express spent about nine months looking for a second location, including land for a build-to-suit project. "Construction costs were outrageous," he says. With decision made to buy existing stock, one of his first stops was UPS to see if corporate chiefs would sell the ready-to-go freight terminal in High Prairie Business Park. Two months later, the deal closed. "It's in pretty much perfect condition," says the deal's sole broker.

The just-bought holding has 34 dock doors and ample trailer parking space. Comps show an 8,200-sf structure, with 28 doors on a 3.5-acre tract across the street, is on the market for $1.1 million.