Originally constructed in 1960, a manufacturing and distribution facility at 4040 Forest Lane was renovated most recently in 2016 and features clear heights ranging from 12 to 40 feet, 40 loading docks, 18 overhead doors, six drive-in doors and substantial parking. The facility is 97 percent leased to five tenants in the retail and logistics industries.
The property is situated on 47 acres in the Northeast Dallas/Garland industrial submarket, which is rapidly evolving into a target for modern logistics users due to its highly coveted infill location. The facility is in the northeastern part of the MSA between multiple freeways including Interstates 30 and 635, U.S. Highway 75 and the President George Bush Turnpike, which provides regional connectivity and access to major distribution channels.
Acquisition financing totaling $14.4 million was obtained for the four-building 649,361-square-foot facility. JLL worked on behalf of the borrower, Lightstone, to place the seven-year fixed-rate loan with RGA Reinsurance Company.
The JLL team representing the new owner included Peter Rotchford, Cullen Aderhold, Alex Staikos, Ross Crawford and Bo Beidleman.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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