Industrial Commercial Properties, led by David Mileski, got the 4005-07 High Point Dr. tract from David J. Burroughs, a 16-year owner from Sunnyvale who owns other acreage and a business in the immediate area, according to Gary Lindsey, a Grubb & Ellis Co. senior vice president in Dallas. Dirt in the area goes for $1.50 per sf to $1.75 per sf.
"I tracked him down and found out who owned the land," Lindsey says, telling GlobeSt.com that the cold call took awhile to pull the deal together. "But, it turned out to be a real clean deal." He says Pacer Stacktrain leased the land from Industrial Commercial Properties.
Pacer Stacktrain pioneered double-stack rail technology in 1984 under the banner of APL. In 1999, APL was bought by the Concord, CA-based Pacer International Inc. According to its website, the Dallas locations include a domestic yard at 4100 Forney Rd., which is right around the corner from the High Point Drive land and close to large-scale industrial developments by a Dallas favorite son, Hillwood, as well as Atlanta-based IDI Inc. and Transwestern Dallas. Pacer's international yards are located at 5301 Second Ave. in Dallas and 3701 S. Interstate 45 in Wilmer at a UP intermodal that is changing the face of South Dallas County.
© 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.