Marcus & Millichap is pleased to present the opportunity to acquire the property located at 4720 Industrial Street in Rowlett, Texas, owned by the previous user, GatSplat Indoor Paintball. The subject property consists of approximately 15,406 square feet of warehouse space and is situated on 1.44 acres of land. The single-tenant asset features metal construction, 2,500 square feet of office space, a clear height between 15’ and 18’, one dock-high door, three-phase power, sprinklers, full heating and cooling, and 43 parking spaces. For sale as vacant, the property can be acquired for owner use or as a lease-up investment. Positioned in the Northeast Dallas/Garland submarket, the property sits adjacent to President George Bush Turnpike with proximity to Interstate 30.
Northeast Dallas/Garland submarket is one of Dallas’ original and largest industrial hubs, containing 56.3 million square feet of space. While there is a significant stock of newer large warehouses, 43 percent of the inventory is concentrated among industrial properties under 100,000 square feet delivered before 2000. In 2023, net absorption contracted into negative territory by the most in two decades by -816,000 square feet. Despite the weakness in demand, the vacancy rate only rose by 200 basis points to just 3.9 percent, outperforming the metro average that finished the year off at 8.4 percent. Although asking rents slowed by 320 basis points, the growth rate increased by 8.2 percent to about $9.00 per square foot last year, more than doubling the pace of the Consumer Price Index. While the local inventory has experienced significant growth over the last decade, there were only 747,000 square feet underway during Q1 2024, representing just 1.3 percent of supply. As a result, rents and vacancies will largely be unaffected by new supply for the foreseeable future (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. © 2024 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0060057)
