Forney Industrial Park
- 10758 West Us-80 Highway, Forney, TX 75126
- Property Type:
- Multi Tenant
- Cap Rate:
- 5.22% cap
- Square Feet:
- 311,000 sqft
- Lot Size:
- 50.06 acres
- Price Per Square Foot:
- Year Built:
- 311,000-Square-Foot Multi Tenant Warehouse Situated on 50.06 Acres
- Highly Functional Asset: 20’-22’ Clear Height, 29 Dock-High Doors, and 26 Grade Level Doors
- 94.37% of Rent Roll on Year-to-Year Leases with Landlord Option to Terminate Leases with Immediate Market-to-Market Upside
- Tough Barrier-to-Entry Market: 1.30% Overall Vacancy and 6% Annual Rent Growth (CoStar)
- Strategically Located Industrial Warehouses with Proximate Access to Major Freeways
The subject 311,000-square-foot multi-tenant industrial park offers a very unique investment opportunity in the Forney industrial market where no similar acquisition has presented itself since 2015, providing the buyer an opportunity to acquire this asset in a very tough barrier-to-entry ownership market.
This highly functional asset allows for several tenant types, with multiple grade-level and dock-high doors in most of the subject buildings fitting a wide range of tenant functions to keep up with customer demand in a highly-accessible location.
With only five properties for lease within a five-mile radius of the subject property and 6 percent annual submarket rent growth, there is immediate capability of ownership to sign new leases to meet market rent and increase NOI.