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Lewisville, TX

Andes Coil Processors

Address:
202 South Railroad Street, Lewisville, TX 75057
Property Type:
Single Tenant
Price:
$7,100,000
Cap Rate:
5.70% cap
NOI:
$405,001
Square Feet:
110,400 sqft
Lot Size:
7.62 acres
Price Per Square Foot:
$64.31
Year Built:
1983
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Investment Highlights

Investment Highlights

Investment Highlights

• Over Seven Years Remaining on a Triple-Net Lease with Two 3-Year Renewal Options and Aggregated CPI Increases Occurring Every 3 Years
• Tenant Has Occupied 98 Percent of the Site Since 1983 Demonstrating Strong Commitment to the Rail Serviced Location
• Metal Construction Asset Composed of Seven Drive-In Doors, 25’-35’ Clear Height and Over Five Acres of Outside Storage Area
• Subject Property is Proximate to Old Town Station (A-Town Commuter Rail), Interstate 35 and Highway 121
• Tough Barrier to Entry Industrial Submarket: 4.7% Overall Vacancy and 3.6% Annual Rent Growth
• 2,400 Square Feet of Vacant Space Providing Opportunity to Increase Value by Expanding Current Tenant or New Tenant

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 202 South Railroad Street in Lewisville, Texas, leased to Andes Coil Processors. The subject property consists of approximately 110,400 square feet of space and is situated on 7.62 acres of land. The asset features metal construction, seven drive-in doors, 25’-35’ clear height, and over five acres of outside storage area. The 2,400 square feet of vacant space provides an opportunity to increase value by expanding the current tenant’s leased square footage or leasing to a new tenant. There are currently over seven years remaining on a triple-net lease with two three-year renewal options and aggregated CPI increases occurring every three years.

Andes Coil Processors has occupied 98 percent of the site since 1983, showing commitment to the rail-serviced location. The strength of the tenant is also reflected in their multiple locations in North Texas and Indiana, occupying more than 322,000 square feet. The subject property is proximate to Old Town Station (A-Town Commuter Rail), Interstate 35, and Highway 121. In addition, it lies within a tough barrier to entry industrial submarket with 4.7 percent overall vacancy and 3.6 percent annual rent growth. Although the city of Lewisville is predominantly a suburban bedroom community, it contains a few large industrial nodes. Most of the submarket’s big-box inventory is located either in the southern part along Lakeside Parkway, I-35E, or in the eastern section near Highway 121. Development did not start in earnest in Lewisville until 1990, and as a result, inventory consists primarily of industrial product with clear heights suitable for modern distribution. (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: ZAB0061014)