Marcus & Millichap is pleased to present the opportunity to acquire the property located at 906 Mercury Avenue in Duncanville, Texas. The subject property consists of approximately 21,175 square feet of warehouse space and is situated on 1.4 acres of land. The single-tenant asset features one dock-high door and four grade-level doors, a clear height of 13’ to 16’, and three-phase power with 600 amps and 220 volts. Recent renovations include a newly installed security system and upgrades to the interior warehouse and office space. With a building coverage ratio of about 35 percent, the property consists of 30,000 square feet of paved outdoor storage space secured by steel fencing and two heavy industrial gates. For sale as vacant, the property can be acquired for owner use or as a lease-up opportunity. Located in the Southwest Dallas/US 67 submarket, the property is about 13 miles southwest of downtown Dallas with easy access to State Highway 67 and Interstates 20 and 35 East.
Southwest Dallas/US 67 is a large submarket containing 42.9 million square feet of industrial space. Thanks to vacancies hitting a record low of 1.0 percent in 2021, the submarket attracted significant development in recent years with the inventory expanding by 27 percent by the start of 2024 (86 percent of which is concentrated in big-box warehouses over 200,000 square feet). The increase in speculative supply drove the vacancy rate to a new high of 13.7 percent at the end of 2023. However, comparable properties under 50,000 square feet continued to enjoy a low vacancy rate, remaining steady at just 2.4 percent last year. Despite slowing down in 2023, the growth rate on asking rents throughout Southwest Dallas/US 67 remained 140 basis points higher than the 10-year average at 8.6 percent. Construction activity slowed to just 93,000 square feet in early 2024, representing just 0.2 percent of inventory (CoStar). Thanks to the slowdown in development, rent growth and vacancy rates will be unaffected by new supply for the foreseeable future.
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, ensures 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. © 2023 Marcus & Millichap. All rights reserved. (Activity ID: ZAE0060364)
