David Dunn of Dunn Commercial LP in Arlington tells GlobeSt.com that the Grand Prairie investor, with other holdings nearby, got a six-tenant building at 805 W. North Carrier Parkway, with upside in the 13,808-sf vacancy and leases with no turnovers for several years. He says the deal went full circle in 60 days after he cold-called ProLogis about the prospect of buying the 20-year-old building on 2.8 acres in the Great Southwest Industrial District.
Dunn says the investor "was looking for opportunity and I found it." The Aurora, CO-based ProLogis' inventory in the district is mostly bulk warehouse and not flex. "I knew that so I approached them," he adds. The buyer of record is 805 Carrier Parkway LP, which secured financing from a local bank to turn the deed.
In making the deal happen, Dunn Commercial got the leasing and management duties for the just-acquired, institutional-grade, class A asset. The empty space will hit the market at $7 per sf net. The in-place tenants occupy spaces ranging from 3,500 sf to 7,000 sf.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.