X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-A 45,346-sf industrial building in Southwest Dallas has leveraged a $1.25-million loan for borrower, Trinity Parkway Properties Ltd., a Jim Lake partnership company.

Houston-based Kinghorn, Driver, Hough & Co. arranged the financing through Union Central Life Insurance Co., headquartered in Cincinnati. The 20-year loan carries a 20-year amortization, bearing a breakdown rate of $27.57 per sf.

The asset at 141 Manufacturing St. is situated in the Trinity Market area. “The area,” explains Don R. Smith, a vice president with Kinghorn, Driver, Hough & Co. and the loan arranger, is experiencing an influx of newer properties and redevelopment for tenants catering to the designer market.”

The 39-year-old building, which has the Big D Bindery as its tenant, is situated on a tract of about 57,000 sf. Its 2002 proposed assessment is $1.1 million, according to the Dallas Central Appraisal District. The lower rent and perks available in some submarkets of Dallas’ south and southwest corridors have proven successful in luring smaller tenants and buyers to their inventory of older buildings.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.