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Fort Worth, TX

Kroger Drive Multi Tenant Warehouse

Address:
5650 Kroger Drive, Fort Worth, TX 76244
Property Type:
Multi Tenant
Price:
$7,560,000
Cap Rate:
8.00% cap
NOI:
$604,375
Square Feet:
79,190 sqft
Lot Size:
5.18 acres
Year Built:
2000
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* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

Investment Highlights

Investment Highlights

  • Fully Leased Multi-Tenant Warehouse Situated on 5+Acres
  • Highly Functional Asset: 21’-24’ Clear Heights, 11 Dock High Doors, Fully Sprinklered and Paved Outside Storage
  • Both Tenants are on Long-Term Triple-Net Leases, Minimizing Landlord Responsibilities to Roof and Structure
  • Attractive Class B Construction Priced Below Replacement Cost of Land and Improvements
  • Prime Location with Immediate Access to Interstate 35, Highway 377, Interstate 820 And Alliance
  • Altitude Trampoline Park, One of the World’s Largest Trampoline Parks, Recently Extended Their Lease Two Years Under a Guarantee Showing Their Commitment to the Site Since 2012
  • Flawless Gymnastics Signed a Brand New Five Year Triple-Net Lease With a Personal Guarantee, Which Has Allowed Them to Double The Size of Their Previous Facility to Accommodate Their Growing Business

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 5650 Kroger Drive in Fort Worth, Texas. The subject property consists of approximately 79,190 square feet of space and is situated on 5.18 acres of land. The asset is highly functional with 21’-24’ clear heights, 11 dock-high doors, paved outside storage area, and is fully sprinklered. This attractive Class B asset is priced below replacement cost of land and improvements. The multi-tenant warehouse is fully leased with both tenants on long-term, triple-net leases, minimizing landlord responsibilities to the roof and structure. Altitude Trampoline Park, one of the world’s largest trampoline parks, recently extended their lease an additional two years with a guarantee, showing their commitment to the site since 2012. Flawless Gymnastics signed a brand-new, five-year, triple-net lease with a personal guarantee, which has allowed them to double in size from their previous facility to accommodate their growing business. The property’s prime location gives immediate access to Interstate 35, Highway 377, Interstate 820, and Alliance Gateway Freeway.

The NE Tarrant/Alliance Submarket is dominated by Hillwood’s 26,000-acre, masterplanned AllianceTexas development. Alliance has emerged as one of Dallas-Fort Worth’s primary industrial nodes, featuring some of North Texas’ newest, mostefficient warehouse products. The submarket has been one of the most active in the Metroplex in terms of new supply this cycle. Since 2010, the area has added over 17.7 million SF of new space, encompassing 14 percent of the industrial construction in the market during this period. The connectivity provided by the airport cannot be overstated. Amazon Air opened a regional hub, hiring 300 people to operate the facility. The Fort Worth Air Hub is located on the west side of the airport and will include a package sorting facility and the ability to handle multiple flights daily. The high proportion of big-box inventory in NE Tarrant/Alliance makes the submarket attractive to institutional investors, and buildings often change hands as part of national or multi-market portfolio sales. Over the past decade, the submarket has emerged as one of the premier industrial submarkets in the country. (CoStar)

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. © 2020 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0060109)