CBRE Brokers Sale of Million Square Foot Dallas Distribution Center
CBRE arranged the transaction on behalf of the seller, VanTrust Real Estate. Property Reserve Inc was the buyer. The price was not disclosed.
Delivered in 2021, DelParc Logistics Center is located at the corner of North Dallas Avenue and Telephone Road. It has eight entrance and exit points from the building, giving it access to several transportation options that connect to the Dallas/Ft.Worth area.
The property is 100% leased to a single tenant. CBRE’s Jonathon Bryan touts the site, “DFW remains a preferred destination for industrial capital and rental rates continue to grow.”
A recent CBRE market survey indicated the Dallas/Ft. Worth market has an average overall vacancy rate of 6.2%. 17 million square feet of product is under construction.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.