Premier Produce Services
- 8125 Western Hills Boulevard, White Settlement, TX 76108
- Property Type:
- Single Tenant
- Cap Rate:
- 8.00% cap
- Square Feet:
- 24,240 sqft
- Lot Size:
- 4.31 Acres
- Price Per Square Foot:
- Year Built:
- Newly Executed Five-Year Triple-Net Lease with Strong Tenant
- Located Just Off Interstate-30 and Interstate-Loop 820 with Proximity to Meacham International Airport
- Masonry/Metal Construction Featuring Two Grade-Level Door, Eight Dock-High Doors, and 14,000 Square Feet of Cold Storage Space
- Property Situated on 4.31 Acres Allowing for Ample Outside Storage/Parking
- Subject Property Features LED Lighting, 3-Phase Power, and 2,500 Square Feet of Office Space
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 8125 Western Hills Boulevard in White Settlement, Texas. The subject property consists of approximately 24,240 square feet of warehouse space and is situated on 4.31 acres of land. The asset features two grade-level doors, eight dock-high doors, LED lighting, and 3-phase power. Made of masonry and metal construction, the warehouse consists of 14,000 square feet of cold storage space in addition to the 2,500 square feet of office space. The asset will be occupied by a strong tenant on a five-year, triple-net lease. Ample outdoor space provides the tenant additional storage space and sufficient parking. Located just off Interstate 30 and Interstate 820 (Loop), the property is proximately located in the West Tarrant submarket, near the Fort Worth Meacham International Airport.
Like the subject property, most of the 5.5 million square feet of industrial space in the West Tarrant submarket consists of smaller warehouses or flex/light manufacturing facilities suited for local businesses. About half of the submarket’s inventory is situated around the Fort Worth Naval Air Station Joint Reserve Base, home to the 1.5 million-square-foot Lockheed Tactical Systems facility. During the second quarter, Phase 1 of the 380,020-square-foot Lone Star Commerce Center was delivered. The speculative build was the largest quarterly delivery in the West Tarrant submarket on record since 1997. The delivery of the Lone Star Commerce Center pushed vacancy rates in the submarket up to 8.7 percent, however, prior to completion the vacancy rate sat at just 2.5 percent in the first quarter. The average annual rent is currently growing at 6 percent, 160 basis points higher than the 10-year average (CoStar). With year-to-date net absorption already exceeding last year’s total, the West Tarrant submarket has become an attractive opportunity for industrial investors in the Dallas-Fort Worth metroplex.
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.