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Dallas, TX

2481 Manana Drive

Address:
2481 Manana Drive, Dallas, TX 75220
Property Type:
Single Tenant
Price:
Submit Offer
Square Feet:
74,550 sqft
Lot Size:
5.72 acres
Year Built:
1997
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* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

Investment Highlights

Investment Highlights

  • Two-Building, Industrial/Office Flex Asset for Owner-User or Investor
  • Property Consists of Two-Story 45,300-Square-Foot Office Space and 29,250 Square Feet of Industrial, Divided by Courtyard
  • Situated on 5.72 Acres, 300+ Parking Spaces, 26’ Clear in Warehouse with 2 Dock-High Doors and 1 Grade-Level Door
  • Fully Operational Test Kitchen
  • Located in Highly Desirable Hines Corridor, Proximate to North Walton Walker and Stemmons Freeway
  • Opportunity for Investor with Attractive Pro-Forma Leasing Potential

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the Industrial/Office property located at 2481 Manana Drive in Dallas, Texas. The subject property consists of approximately 74,550 square feet and is situated on 5.72 acres of land. The two-building asset features 29,250 square feet of warehouse space and 45,300 square feet of office space, over 300 parking spaces, a warehouse clear height of 26’, two dock-high doors, and one grade-level door. Suitable for owner user, the soon to be vacant space also provides an attractive lease-up opportunity for pro-forma investors. Located in the highly desirable Hines Corridor, the property has proximate access to Stemmons Freeway (Interstate 35 East) and North Walton Walker TEXpress (Loop 12).

With 23.0 million square feet of inventory, East Hines North is one of the original industrial hubs developed in Dallas. Nearly 95 percent of supply was developed prior to 2000. Facilities smaller than 100,000 square feet account for the bulk of inventory, making up 83 percent. Virtually all the industrial inventory in East Hines North is situated along Harry Hines Boulevard and Interstate 35 East, giving tenants quick access to major population centers in Dallas. Largely due to a lack of available industrial land, the inventory has only expanded by 1.6 percent over the last decade. As a result, the vacancy rate, which has remained below 5 percent since 2014, stood at just 3.3 percent during Q2 2022. Tight supply also led to a record 12.3 percent annual increase in market rents during this time. At $8.77-per-squarefoot, the average rent in East Hines North now offers landlords an 8 percent premium compared to the overall market (CoStar).

The Dallas-Fort Worth metroplex is the fourth-most populous metro in the nation, with an aggregate of more than 7.7 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 0.92 Million 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 24 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.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2022 Marcus & Millichap. All rights reserved. (Activity ID: ZAD0060620)