April 7, 2020
In an off-market transaction, a North Texas investor has closed on a fully leased 33,400-square-foot warehouse in south Dallas County. Terms weren’t disclosed.
The 24-suite project was developed in the mid-1980s on a 1.8-acre tract at 706 E. Red Bird Ln. in Duncanville. RFF Family Ltd. acquired the asset from Mazaya Investments LLC of Dallas.
“It was a good investment opportunity,” says Josh Meraz, senior associate of Dallas-based Bradford Commercial Real Estate Services, who represented the buyer.
He noted that several renewals were completed during due diligence, resulting in no rollovers for one to three years and pushing the cap rate above 8.5%. The buyer has retained Meraz to lease the warehouse.
Kyle Matthews of Matthews Real Estate Investment Services represented Mazaya Investments, which acquired the holding about four years ago. Situated near South Cockrell Hill Road, the property is just a short distance from the Interstate 20-TX 67 junction.
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