- 2130 South Burleson Boulevard, Burleson, TX 76028
- Property Type:
- Single Tenant
- Cap Rate:
- 8.00% cap
- Square Feet:
- 10,350 sqft
- Lot Size:
- 1.5 acres
- Price Per Square Foot:
- Year Built:
• Located Just Off Interstate 35W with Proximity to Fort Worth Spinks Airport
• Masonry/Metal Construction Featuring One Grade-Level Door and 3,091 Square Feet of Office Space
• Subject Property Features LED Lighting and 3-Phase Power with Roof in Good Condition
• 10,350-Square-Foot Property Situated on 1.5 Acres Allowing for Ample Outside Storage
• Newly Executed Triple-Net Lease with Strong Tenant at Market Rent
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2130 South Burleson Boulevard in Burleson, Texas. The subject property consists of approximately 10,350 square feet of office-warehouse space and is situated on 1.5 acres of land. The asset features ample outside storage space, one grade-level door, LED lighting, 3-Phase power, and 3,091 square feet of office space. The structure of the property consists of masonry and metal construction, and the seller reports the roof is in good condition. The property recently acquired a newly executed triple-net lease at above-market rent. Located just off Interstate 35 West in the Johnson County submarket, the asset is within close proximity to the Fort Worth Spinks Airport.
Situated on the southwestern fringe of the Dallas-Fort Worth metroplex, Johnson County is an exurban submarket with 13.5 million square feet of industrial inventory. Interstate 35 West provides tenants with direct access north to Fort Worth and south to Austin, San Antonio, and Mexico. With a vacancy rate of just under 3 percent, the submarket is essentially fully occupied with little threat from new construction, other than build-to-suits for manufacturers. Johnson County’s 4.1 percent rent growth continues to lead among submarkets and outperforms the 3.8 percent average for the Metroplex. In 2017, Johnson County passed a 10-year, 75 percent tax abatement allowing up to $91,900 in cuts to property taxes each year. The tax abatement gives Johnson County a competitive advantage over neighboring submarkets in attracting commercial real estate development. The most notable delivery in recent years is the 100,000-square-foot Louis Vuitton manufacturing facility in mid-2019. The facility is expected to employ up to 1,000 workers by 2024 (CoStar). Low vacancy rates, high rent growth, and tax incentives combine to make Johnson County an optimum place for industrial real estate investors.
The Dallas/Fort Worth metroplex is the fourth-most populous metro in the nation with an aggregate of more than 7.5 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 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.