1014 OAKMEAD DRIVE (Arlington, TX)
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• 7,596-Square-Foot Distribution Building Situated on 0.49 Acres
• Features One Dock-High Door, One Drive-In Door, and 15’-16’ Clear Height
• New Roof-Replaced Two Years Ago
• Easy Access to I-30, PGBT, and DFW International Airport
Marcus & Millichap is pleased to present the opportunity to acquire 1014 Oakmead Drive in Arlington, Texas. The subject distribution building consists of approximately 7,596 total square feet and is situated on 0.49 acres of land, and is located in one of the largest industrial submarkets in the Metroplex. Built in 1982, the property features one dock-high door, one drive-in door, and 15’-16’ clear height. The building’s roof was reported by the seller to have been replaced two years ago. The asset has easy access to Interstate 30, PGBT, and Dallas Fort-Worth International Airport. The short-term lease allows ample time to replace the current tenant. The Upper Great Southwest Industrial submarket has a 6.50 percent market vacancy rate and 5 percent annual rent growth. The submarket is attractive to national retailers, 3PLs, and companies focused on local distribution (CoStar).
As the 50th largest city in the United States, Arlington is home to five public school districts and three universities. Its prime location at the center of the Dallas/Fort Worth metroplex, pro-business environment, and extensive track record of handling large-scale developments makes Arlington an ideal place for business (arlingtontx.gov). Arlington has a steadily decreasing unemployment rate and a steady population increase for the area. Top employers in the Arlington market include University of Texas at Arlington, General Motors Co., Texas Health Resources, Six Flags Over Texas, and GM Financial. Popular attractions include Cowboys AT&T Stadium, Globe Life Park (Texas Rangers), Hurricane Harbor, and Lake Arlington.
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.