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Dallas, TX

2600 Manana Drive

Address:
2600 Manana Drive, Dallas, TX 75220
Property Type:
Vacant
Price:
$950,000
Square Feet:
10,032 sqft
Lot Size:
0.43 acres
Price Per Square Foot:
$94.70
Year Built:
1965
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Investment Highlights

Investment Highlights

Investment Highlights

• 10,032-Square-Foot Industrial Warehouse Situated on a 0.43 Acre Lot, Masonry Construction
• Priced at $94.70/SF Compared to $100/SF Average Sales Price of Industrial Property from 5,000-15,000 Square Feet In Hines North Submarket
• Great Owner-User Opportunity Featuring 16’ Clear Height, One Grade-Level Door and One Dock-High Door
• Hines North is an Energetic Industrial Market with a Vacancy Rate of 4.1%
• Fantastic Location on Corner Lot on Manana Drive and Shady Trail with Ease of Access to I-35E
• Northeast of Dallas with Proximity to DFW International, Dallas Love Field, and Medical District

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2600 Manana Drive in Dallas, Texas. The subject property consists of approximately 10,032 square feet of space and is situated on 0.43 acres of land. The asset features masonry construction, 16’ clear height, one grade-level door, and one dock-high door. A great owner-user opportunity, the subject property is priced at $94.70/square foot compared to the $100/square foot average sale price of industrial property (5,000-15,000 square feet) in the North Hines submarket over the past 12 months. The North Hines submarket is an energetic industrial market with a vacancy rate of 4.1 percent. The subject property is in a fantastic location on corner lot on Manana Drive and Shady Trail with ease of access to I-35E. It is located northeast of Dallas with proximity to DFW International Airport, Dallas Love Field, and the Medical District.

East Hines North is an in-town industrial submarket totaling 22.1 million square feet of inventory. The bulk of it is comprised of older industrial facilities smaller than 100,000 square feet. Virtually all industrial inventory in the submarket runs along Harry Hines Boulevard and the North Stemmons Freeway (I-35), giving tenants access to many of the major population centers in Dallas. The submarket has not seen significant supply additions in decades, a trend that is unlikely to change due to high land costs and a lack of large tracts suitable for industrial facilities. The lack of supply, coupled with a strong demand for space near the urban core, has contributed to tight vacancies. As of today, the vacancy rate is 4.3 percent. Sales activity is steady, with turnover ranging from 4 percent–8 percent annually in recent years. While most deals involve local buyers, some institutional capital has made its way to the submarket over the last decade. (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.

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. © 2021 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0061083)