5901-5909 Tension Drive
- 5901-5909 Tension Drive, Fort Worth, TX 76112
- Property Type:
- Single Tenant or Multi-Tenant
- Square Feet:
- 11,500 sqft
- Lot Size:
- 0.59 Acres
- Year Built:
- 11,500-Square-Foot Industrial Warehouse Situated on 0.59 of an Acre
- Featuring Three Dock-High Doors, Two Grade-Level Doors, and 4,500 Square Feet of Outside Storage
- Suitable for a Variety of Users with Recently Renovated Exterior and Interior
- Located Within Close Proximity to I-820, Allowing Easy Access Throughout Entire Metroplex
- Tough Barrier-to-Entry Submarket with 3.5% Vacancy, 7.6% Rent Growth, and Minimal Deliveries
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 5901 to 5909 Tension Drive in Fort Worth, Texas. The subject property consists of approximately 11,500 square feet of warehouse space and is situated on 0.59 acres of land. The multi-tenant asset features two suites, 2,116 square feet of office space, 4,500 square feet of outside storage space, and a clear height of 12’. With three dock-high doors and two grade-level doors (including one covered dock platform), the property is suitable for a variety of uses. Originally delivered in 1966, the property was renovated in 2023 with improvements to the interior and exterior of the building including a repaved parking lot, updated office space, and painting. For sale with one short-term lease, the property can be acquired for owner use or as a lease-up investment opportunity. Located just off Interstate 820, the property has easy access to Interstate 30 which connects Downtown Fort Worth and Downtown Dallas.
The subject property is situated within East Fort Worth, a tight barrier-to-entry submarket containing 28.1 million square feet of industrial space. The tenant base is largely a mix of manufacturers and local retail and food distributors. Small industrial properties dominate East Fort Worth, with properties under 100,000 square feet making up nearly three-quarters of the local inventory. While demand for industrial space has slowed down in 2023, the vacancy rate remains historically low at 3.5 percent early in Q4, outperforming the overall Dallas–Fort Worth market with vacancies at 7.7 percent. Although rent growth has also decelerated this year, the rate was still well above pre-pandemic levels at 7.6 percent annually during this time. Going into the last quarter of the year, 764,000 square feet of industrial space were under construction in East Fort Worth, representing only 2.7 percent of current inventory levels. Given that 93 percent of the pipeline is concentrated in properties over 50,000 square feet, new supply will have a minimal direct impact on small industrial properties comparable to the subject asset (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.