CBRE National Partners announced the sale of DalParc Logistics Center, a brand new, 1,008,140-square-foot industrial distribution center located at 3199 Telephone Road in Dallas. Property Reserve, Inc. purchased the facility from VanTrust Real Estate for an undisclosed price.
Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber with CBRE National Partners arranged the transaction on behalf of the seller.
Delivered in 2021, the property is located conveniently at the corner of North Dallas Avenue and Telephone Road in the highly coveted South Dallas submarket. There are eight entrance and exit points from the building, giving it excellent access to several major transportation arteries that connect the Dallas-Fort Worth metroplex. The property is 100% located to a single tenant, providing a stable cash flow over a long-term lease.
The spike in demand for distribution and logistics space that accelerated during the pandemic has shown no signs of slowing down. According to CBRE’s Q2 2022 Dallas Fort-Worth Industrial MarketView, the North Texas industrial market has an overall vacancy rate of 5.1%. In South Dallas, there is a 7.4% vacancy rate as developers have delivered 7.8 million square feet of industrial product in 2022 with over 17 million square feet of product under construction.