1461 Lemay Drive
- 1461 Lemay Drive, Carrollton, TX 75007
- Property Type:
- Multi Tenant
- Square Feet:
- 13,322 sqft
- Lot Size:
- 0.93 acres
- Price Per Square Foot:
- Year Built:
• 13,322-Square Foot Industrial Asset Situated on 0.93 Acres
• Features Three Grade-Level Doors, 16’-18’ Clear Height, and 2,500 Square-Feet of Office Space
• Below Market Rents and Upcoming Lease Expirations Create Lease-Up or Owner-User Opportunity
• Property Offers Ample Tenant Parking and Outside Storage Space for Tenant
• Recently Replaced Roof, Fence, Camera System, Exterior Lighting, and HVAC System
• Located within 5 Minutes of President George Bush Turnpike and Interstate 35
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1461 Lemay Drive in Carrollton, Texas. The subject property consists of approximately 13,322 square feet of space and is situated on 0.93 acres of land. The asset features 16’-18’ clear heights, three grade-level doors and 2,500 square-feet of office space. Ample parking and space for outside storage allows for a variety of tenant uses. The property offers a recently replaced roof, fence, camera system, exterior lighting and HVAC system. With upcoming lease expirations and below market rents, the asset can be acquired for owner-use or creates a lease-up opportunity for investors. Located just five minutes from the President George Bush Turnpike and Interstate 35, the asset is strategically positioned within the North Stemmons/Valwood submarket.
The North Stemmons/Valwood submarket has added an average of 1.5 million square feet of inventory a year since 2017. However, vacancy rate has remained 212 basis points below the market average over the last three years. With 250,000 square feet of industrial space currently under construction, the pipeline remains stable and demand continues to keep pace with supply. Vacancies are expected to be kept in check in the near term. Stemmons/Valwood is one of the most actively traded submarkets in the metro, often involving national or institutional buyers and sellers. The area is home to many long-term and large industrial tenants such as Haliburton (932,900 square feet) and CyrusOne (664,600 square feet) that have a big economic impact on local industrial real estate (CoStar).
The Dallas/Fort Worth metroplex is the fourth-most populous metro in the nation with an aggregate of more than 7.1 million residents. It is composed of 13 counties stretching nearly 10,000 square miles. The city of Dallas houses 1.3 million people, followed by Fort Worth with 800,000 residents. Strong job growth continually draws new residents to the region. To accommodate the additional traffic, the region’s transportation network is evolving. Traffic flow is improved as freeways are expanded and miles are being added to tollways and turnpikes. The growth of the transportation network is vital to supporting commuters to the metros numerous corporations and growing industries. Dallas/Fort Worth’s population growth in recent years ranks among the highest in the U.S. for a major metro. The Metroplex is home to 21 Fortune 500 companies and many regional headquarters, drawing workers and residents. The area’s extensive network of rail and highways, along with the International Inland Port of Dallas, ensure its status as a distribution hub.