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Dallas, TX

2681 Freewood Drive

Address:
2681 Freewood Drive, Dallas, TX 75220
Property Type:
Single Tenant
Price:
$595,000
NOI:
$23,700
Square Feet:
5,800 sqft
Lot Size:
0.2 Acres
Price Per Square Foot:
$102.59
Year Built:
1960
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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

  • 5,800-Square-Foot Industrial Warehouse/Office Flex Space
  • Located in Highly Desirable East Hines North Submarket Directly Off Harry Hines Boulevard
  • Proximate to I-35E, I-635 and Northwest Highway
  • Great Opportunity for Owner-User or Investor in Dallas/Fort Worth
  • 16’ Clear Height in Warehouse with Two Grade-Level Doors
  • Current Owner to Lease Back for Six Months in Order to Move Business

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2681 Freewood Drive in Dallas, Texas. The subject property consists of approximately 5,800 square feet of flex space and is situated on 0.2 acres of land. The asset features two grade-level doors and a clear height of 16’. The sale provides a great owner-user or investment opportunity in the nation’s leading industrial market. Major thoroughfares such as Interstate 35 East, Interstate 635, and Northwest Highway are all in proximity to the property. Located directly off Harry Hines Boulevard, the asset is primely situated within the highly desirable East Hines North Submarket.

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, net deliveries have amounted to only 410,378 square feet over the last decade, representing less than 2 percent of current inventory. As a result, the vacancy rate, which has remained below 5 percent since 2014, stood at just 3.8 percent in Q1 2022. Tight supply also led to a record 12.1 percent annual increase in market rents during this time. At $8.65-per-square-foot, East Hines North now offers landlords an 8 percent rent 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 919 thousand 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 metro’s 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: ZAD0060125)