Dallas-based CanTex Capital recently acquired 2917 Oakland St., a 123,800-square-foot industrial property in Garland, Texas. CanTex sought to acquire the value-add warehouse to complement the adjacent 162,000-square-foot manufacturing and warehouse facility at 2900 W. Kingsley Rd. that CanTex also acquired last year. This allowed for an aggregation of more than 17 contiguous acres in an infill industrial submarket with labor access and major thoroughfares.
“We are actively investing in infill industrial buildings in the Dallas/Fort Worth market and it’s rare to find a 30-foot clear warehouse with a secure outside yard in an infill submarket,” said Romit Cheema, CEO of CanTex. “We like to focus on value-add opportunities and bring them to their full potential through capital improvements which meet market and user demands.”
Stream’s Dallas industrial team of Adam Jones and James Mantzuranis represented CanTex in the transaction with an undisclosed sale price, while Hal Penchan and Matt Troutt with Alt+Co represented the undisclosed seller.
Additionally, Stream was able to identify a multi-national construction company, Hill & Smith, to occupy the entirety of the project. The new tenant is targeted to move in by the end of first quarter 2021. Jones and Mantzuranis represented CanTex on both the purchase and lease, while Stream’s Eric Crutchfield represented Hill & Smith.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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