Osburn Buys Four Acres for Expansion

GARLAND, TX-Osburn Contractors has bought the lion’s share of 5.69-acre tract as a long-term investment for a new operations hub. The 4.19 acres will be dedicated to equipment storage until it’s time to build.

Osburn has bought the last undeveloped corner at Industrial Lane and West Kingsley Road. It is zoned big-box industrial, with shallow-bay construction as the most likely outcome, according to Ryan Wolcutt with Dallas-based TIG Real Estate Services Inc. who represented the buyer. “You could pretty much do anything on it,” he tells GlobeSt.com. “It’s one of the last pieces of heavy industrial zoned land in Garland.”

Michael T. Grant, a TIG senior vice president, represented the seller, Industrial Lane Investors Group LP of Dallas. The investment group sold 1.5 acres about one year ago, keeping the balance of the northwest corner on the market until Osburn stepped up with a contract three months ago. The marketed rate was $3.50 per sf.

Osburn’s operations hub is a leased location at 1917 Copper St., about one-quarter mile from its acquisition. “This will give them some extra land for their outside storage,” Wolcutt explains, “and down the road, they may develop on it.”